Asian Stocks to Gain as Trump and Xi Discuss Trade: Markets Wrap 

​Catherine Bosley and Matthew Burgess 5 min read(Bloomberg) — Asian equities climbed, tracking US peers after a positive conversation between Donald Trump and Xi Jinping raised hopes for easing US-China tensions.Most Read from Bloomberg NYC Commuters Get New Way to Dodge Traffic: $95 Helicopter Rides How Sanctuary Cities Are Preparing for Another Showdown With Trump What LA’s Fires Mean for the City’s Housing Shortage Scaramucci, Ackman Donate to Whitney Tilson’s NYC Mayoral Run Deadly Landslide of Garbage Displays Uganda’s Missed Opportunity Shares advanced in Australia and Japan, with those in Hong Kong and mainland China also opening higher. A gauge of US-listed Chinese shares jumped 3.2% Friday as Trump described the pre-inauguration talk between the two leaders as “very good.” US futures were marginally lower in Asia with Wall Street closed on Monday for a holiday.The optimism came after Trump and Xi discussed trade, TikTok and fentanyl, which may set the tone for relations in the early days of the new administration. Adding to the brigher mood, TikTok started restoring service in the US on Sunday as Trump said he would halt enforcement of a law requiring the app’s Chinese owner to find a buyer for three months.“The amicable call between Trump and Xi, while only a temporary reprieve amidst irrevocable strategic competition, is extra fuel to reignite bullishness in equities,” said Kyle Rodda, a senior analyst at Capital.com in Melbourne. “It’s particularly telling that Asian indices ought to open firmer today because of the news, having barely moved after much stronger than expected Chinese growth data on Friday.”Still, traders are bracing for the first days of the Trump’s second term. He’s planning a flurry of executive orders around immigration, energy, federal workers and regulatory reform, to quickly implement his policy agenda upon taking office. The plans are said to include tightening restrictions on border crossings and setting up the mechanics to carry out mass deportations.“Financial markets are likely to be volatile in the coming weeks as they absorb the details of the incoming administration’s policies,” Barclays analysts including Ajay Rajadhyaksha wrote in a note to clients. “A hundred executive orders on day one itself – on areas as wide-ranging as border policy, tariffs, energy, deregulation, etc. – is likely to send investors scrambling to decipher them.”Elsewhere, Chinese banks kept their key loan prime rates unchanged, as expected by Bloomberg Intelligence.The World Economic Forum’s annual meeting gets underway later Monday. Among the group of billionaires set to join the pilgrimage of the rich and powerful to Davos, Switzerland are Larry Fink, Ray Dalio and Marc Benioff. Trump will speak virtually to the gathering three days after his inauguration.Later in the week, the focus will shift toward the Bank of Japan’s scheduled policy decision on Friday, with about three quarters