World stocks rallied to near record highs on Friday after China said it had agre...
TOKYO - World stocks rallied to near record highs on Friday after China said it had agreed with the United States to cancel tariffs in phases, a key demand of Beijing for sealing a deal to end a trade war that has slowed economic growth and roiled markets.
The index compiler’s gauge of Asia-Pacific shares outside Japan edged up 0.2% in early trade while Tokyo’s Nikkei jumped 0.75% to a 13-month high. The Chinese commerce ministry, without laying out a timetable, said the two countries had agreed to cancel the tariffs in phases.
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