Asian stocks rose on Tuesday, buoyed by optimism over easing trade tensions between the United States and China and the confirmation of Sanae Takaichi as Japan's next prime minister, which drove the Nikkei toward the 50,000-point mark and weakened the yen. MSCI's Asia-Pacific index outside Japan climbed 0.94 per cent to a four-and-a-half-year high, while China's Shanghai Composite added 0.2 per cent and Hong Kong's Hang Seng gained 1 per cent. In Japan, markets rallied on expectations that Takaichi's pro-stimulus stance would sustain monetary easing, pushing the Nikkei higher and the yen 0.4 per cent weaker at 151.39 per dollar. US President Donald Trump expressed confidence in reaching a fair trade deal with Chinese President Xi Jinping ahead of their expected meeting in South Korea next week, lifting risk appetite across the region. Investor sentiment was further supported by hopes of imminent US rate cuts and signs that the government shutdown could end soon, sending Wall Street sharply higher overnight. Analysts now expect S&P 500 third-quarter earnings to grow 9.3 per cent year on year, up from earlier estimates. Attribution: Reuters
