The pan-European Stoxx 600 was up around 0.6 percent shortly after the opening bell, with almost all sectors and major bourses in positive territory.

Market focus is largely attuned to global trade developments, after the Wall Street Journal reported Thursday that U.S. Treasury Secretary Steven Mnuchin proposed lifting all or some of the tariffs on Chinese imports. The goal is to push forward trade talks and get China’s support for longer-term reform.

·         Asian stocks rose across the board on Friday as a report of progress in U.S.-China trade talks stirred hopes of a deal in their tariff dispute and supported risk sentiment.

The Wall Street Journal reported on Thursday that U.S. Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during trade discussions scheduled for Jan. 30.

With equity markets having taken a knock on the trade tensions last year, even the whiff of progress in the months-long Sino-U.S. trade war was enough to boost risk sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS added 0.55 percent. The index has gained 1.3 percent this week.

“As with 2018, the U.S.-China trade row remains a key market theme in 2019. A slight difference is that there are some signs that the two sides are seeking some sort of a resolution,” said Soichiro Monji, senior economist at Daiwa SB Investments in Tokyo.

“China seems to be running low on options, while the United States would also want to avoid a prolonged conflict given the negative consequences on its markets and the economy,” Monji said.

·         Japan’s Nikkei rose on Friday to its best level in a month tracking a rally on Wall Street as hopes of a resolution to the U.S.-China trade dispute boosted risk appetite, while motor maker Nidec trimmed losses after its dismal earnings outlook.

The Nikkei share average rallied 1.3 percent to 20,666.07, the highest close since Dec. 19. For the week, the index rose 1.5 percent.

Market sentiment was lifted by a Wall Street Journal report that U.S. Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback for trade talks scheduled for Jan. 30.

·         Chinese stocks rose on Friday, posting their third straight week of gains, buoyed by hopes that Beijing and Washington could reach a deal to end their tariff war.

The blue-chip CSI300 index closed up 1.8 percent at 3,168.17 points, while the Shanghai Composite Index rose 1.4 percent to 2,596.01 points.