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Asian markets soar on hopes for US-China trade deal

Hong Kong jumps 4.2% for best gain in 7 years after Trump-Xi move to ease tensions

The benchmark Hang Seng Index jumped more than 1,000 points to close at 26,486.35.   © Reuters

HONG KONG -- Asian markets rallied on Friday after the leaders of the U.S. and China took steps toward resolving their monthslong trade war, with Hong Kong leading the region with its biggest one-day jump in nearly seven years.

U.S. President Donald Trump said in a tweet on Thursday that he had "a long and very good conversation" with President Xi Jinping of China by phone, adding that their talk included a "heavy emphasis" on trade issues. "Those discussions are moving along nicely," he said, and that meetings are being planned for this month's G-20 summit in Argentina.

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