Asia stocks rise as Trump delays tariffs on China

Stocks in Asia rose on Thursday as investor hopes rose on positive developments on the U.S.-China trade front.

Mainland Chinese stocks edged up on the day, with the Shanghai composite rising 0.75% to about 3,031.24 and Shenzhen component adding 0.67% to 9,919.80. The Shenzhen composite gained 0.58% to approximately 1,681.23.

Hong Kong’s Hang Seng index slipped about 0.2%, as of its final hour of trading. Shares of Hong Kong Exchanges and Clearing Limited (HKEX) fell more than 3% following its bid for the London Stock Exchange Group (LSE). The HKEX said Wednesday a proposal to the board of LSE had been made to “combine the two companies.”

Meanwhile, Anheuser-Busch InBev said on Thursday it is continuing to explore its Budweiser initial public offering in Hong Kong, two months after saying it will not proceed with the planned listing.

Elsewhere, the Nikkei 225 rose 0.75% on the day to 21,759.61, while the Topix added 0.72% to close at 1,595.10. Shares of Yahoo Japan jumped 2.35% as the company offered to buy the majority of online clothing retailer Zozo. For its part, Zozo saw its stock surge 13.43%.

In Australia, the S&P/ASX 200 gained 0.25% to close at 6,654.90.

Overall, the MSCI Asia ex-Japan index gained 0.46%.

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