Shares rose sharply on Wednesday as investors bet that trade talks would end in a deal before the deadline next week. The regional index closed 2.3 per cent higher, its best day in four months.
Shipping companies led the rise, followed by farm and food businesses that sell much of their produce abroad. The currency also strengthened against the dollar.
Analysts warned that the gains could vanish quickly if the talks stall. "The market is pricing in a deal that has not been signed yet," one said.
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