Caixin
Nov 02, 2018 03:08 PM
FINANCE

Stocks Jump, Yuan Rallies After Xi and Trump Talk Trade

On Thursday, U.S. President Donald Trump tweeted that he and China's President Xi Jinping had “a long and very good conversation” about trade. Photo: VCG
On Thursday, U.S. President Donald Trump tweeted that he and China's President Xi Jinping had “a long and very good conversation” about trade. Photo: VCG

China’s stock markets extended their longest gaining streak since February on Friday as the yuan continued to strengthen on positive signals from President Xi Jinping and U.S. President Donald Trump about the ongoing trade war.

The benchmark Shanghai Composite Index closed up 2.7%, while the Shenzhen Component Index jumped 3.96%. Both gains were the largest daily increase of the two indexes since Oct. 22, when top Chinese financial officials voiced support to stabilize a market that had been one of the world’s worst performers this year.

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