* MSCI Asia ex-Japan +0.5%; Nikkei +0.9%
* Pound eases after rallying on Brexit hopes
* Asian stock markets: https://tmsnrt.rs/2zpUAr4
By Andrew Galbraith
SHANGHAI, Oct 11 (Reuters) - Asian shares and U.S. stock
futures rose on Friday after U.S. President Donald Trump said he
would meet with China's top trade negotiator, while sterling
retreated after rallying on revived hopes of a possible Brexit
deal.
Investors' renewed appetite for riskier assets weighed on
the safe-haven yen JPY= and U.S. Treasury prices, while oil
stayed firm on comments about possible supply cuts from the head
of OPEC.
In early Asian trade, MSCI's broadest index of Asia-Pacific
shares outside Japan .MIAPJ0000PUS rose 0.5%, following on
from gains on Wall Street. S&P e-mini futures ESc1 added 0.2%.
Australian shares .AXJO climbed 0.8%, while Japan's Nikkei
stock index .N225 gained 0.9%.
The more bullish market mood came after a first day of trade
talks between top U.S. and Chinese negotiators that Trump
characterised as "very, very good."
A White House official said the talks had gone "probably
better than expected" and a U.S. Chamber of Commerce official
briefed by both sides raised the possibility of a currency
agreement this week. "Freezing tariffs at current levels are unlikely to reverse
the current trade driven slowdown in economic growth, and the
uncertainty around unresolved structural issues such as IP theft
and subsidies to state own enterprises are likely to remain
deterrents for a pick-up in much needed capital expenditure,"
analysts at National Australia Bank said in a morning note.
"On this score details on a potential currency pact will be
important," they said.
The dollar rose 0.1% against the yen to 108.07 JPY= , while
the euro was flat at $1.1004 and the pound was slightly lower,
fetching $1.2432.
The dollar index .DXY , which tracks the greenback against
a basket of six major rivals, was down at 98.663 after posting
its biggest daily drop in five weeks on waning safe-haven demand
for the currency.
The British pound jumped nearly 2% on Thursday, its biggest
daily gain since March, after Irish Prime Minister Leo Varadkar
said a Brexit deal could be clinched by the end of October after
what he called a very positive meeting with his British
counterpart, Boris Johnson. The move away from safe havens also lifted the yield on
benchmark 10-year Treasury notes US10YT=RR to 1.6716% compared
with a U.S. close of 1.656% on Thursday. Yields rose across the
curve, with two-year notes US2YT=RR yielding 1.5464% compared
with a U.S. close of 1.53%.
In commodity markets, oil prices remained higher after the
head of OPEC said the organisation could take action to balance
oil markets, including a deeper cut in oil supplies.
U.S. crude CLc1 was up 0.43% to $53.78 a barrel and global
benchmark Brent crude LCOc1 was up 0.46% at $59.37 per barrel.
Rising risk appetite tarnished gold's appeal, pushing spot
gold XAU= down 0.16% to $1,491.65 per ounce. GOL/
(Editing by Jacqueline Wong)