Asian stock benchmarks extended Monday’s winning streak for the most part on Tuesday after reports were released that a phone call took place between U.S. Treasury Secretary Steve Mnuchin, U.S. Trade Representative Robert Lighthizer, and China’s top trade negotiator Liu He. Also attending the call was People’s Bank of China Governor Yi Gang, Chinese Commerce Minister Zhong Shan, and Vice Chairman of China’s National Development and Reform Commission, Ning Jizhe, The Chinese Commerce Ministry reported. According to the reports, the discussion focused on some of the “issues of core concern” in the phase 1 of the trade deal, and ended with an agreement to keep the lines of communication open. 
MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.5 percent to touch a one-week high. Japan’s Nikkei 225 was up 0.43 percent as of 2:05 p.m. HK/SIN, while South Korea’s Kp[spi advanced 0.50 percent. Australia’s ASX 200 surged 0.83 percent. Both of China’s benchmark indexes, the Shanghai Composite and the Shenzhen Composite, bucked the trend and headed lower. The gains came after all three Wall Street benchmarks closed at record highs on Monday. According to Nasdaq.com, the buying spree on Wall Street was prompted in part by renewed trade optimism and in part by a spate of acquisitions in the region that boosted investor confidence. Among the headline-making acquisitions in recent days was the sale of Tiffany & Co (TIF.N) to France’s LVMH, and the purchase of U.S. brokerage house TD Ameritrade by Charles Schwab (SCHW.N).
On the currency markets, the dollar hit a two-week high of 109.205 against the yen before retreating slightly. It was trading at 108.97 in the mid-afternoon in Asia, a 0.06 percent gain.The dollar also firmed slightly against the British pound after the sterling’s advance on Monday. The pound was down a modest 0.01 percent to $1.2897. The euro was up 0.03 percent against the dollar in thin trading, to trade at $1.1016.