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In a statement that gave no specific details on the outcome of three days of talks in China's capital this week, USTR said that USA and Chinese officials discussed "ways to achieve fairness, reciprocity and balance in trade relations". The Nasdaq composite rose 60.08 points, or 0.9 percent, to 6,957.08.

Trump boasted on Twitter on Tuesday that discussions in China were "going very well!". Trump agreed to suspend plans to increase tariffs on $200 billion worth of Chinese products from 10 percent to 25 percent while the countries attempt to negotiate a compromise on several issues during the trade talks. They include changes to China's policies on intellectual property protection, technology transfers, industrial subsidies and other non-tariff barriers to trade.

"Crude continues to extend gains as early reports from Beijing, regarding trade negotiations, are fuelling optimism around successful trade talks between the usa and China, " said Stephen Innes, head of trading for Asia-Pacific at futures brokerage Oanda in Singapore.

In return, the US will agree to wind down exorbitant tariffs now placed on Chinese imports.

In December, top Trump administration officials had said the trade commitments amounted to $1.2 trillion, but did not specify the composition or time period.

"China's ability to use (North Korea) as leverage has diminished considerably since Trump opened his own channel to Kim", she said.

China's position on trade is "transparent and the USA side is well aware of it", said Lu Kang.

Stocks rose across Asia and Europe, and equity futures indicated an increase in the United States on Wednesday, on signs the world's two largest economies are trying to resolve their trade war.

Asian markets were mostly lower Thursday as US and Chinese officials wrapped up three days of talks in Beijing without significant breakthroughs. Forecasters expect American orders to slump this year.

Ted McKinney, U.S. under secretary of agriculture for trade and foreign agricultural affairs, said the U.S. trade delegation would return to the United States later on Wednesday after a "good few days".

A senior Chinese official said Beijing plans to introduce policies to boost domestic spending on items such as autos and home appliances this year.

Beijing has tried to defuse pressure for more sweeping change by offering concessions including purchasing more American soybeans, natural gas and other exports.

Beijing has offered concessions on investment regulations and stepping up purchases of American soybeans, natural gas and other exports, seeking to defuse complaints from the US and other trading partners.

Beijing also faces pressure over technology from the European Union.

"I am looking for Liu He to go to Washington after this round of talks - the timing is actually very critical for the markets", said Iris Pang, China economist from ING Bank.

If US crude futures can break through the $55 level, "you're going to see real yields probably lower". They complain China's companies are treated unfairly in national security reviews of proposed corporate acquisitions, though nearly all deals are approved unchanged.

With cooling economic growth raising the urgency for a settlement, this week's talks went ahead despite tension over the arrest of a Chinese tech executive in Canada on US charges related to possible violations of trade sanctions against Iran. The US team was led by Deputy US Trade Representative Jeffrey Gerrish, who is reportedly closely aligned to Lighthizer.