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Hong Kong (CNN Business)Stocks in Asia mostly rallied Thursday after Chinese officialsannounced that theyve agreed with the United Statesto hold another round of trade talks in Washington next month.

advanced as much as 2%, jumping above 3,000 points for the first time in two months. Its now up 1.1% and on track for its fourth straight day of gains.

Chinas Commerce Ministry on Thursday announced that the countrys Vice Premier and chief trade negotiator Liu He has spoken with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin, and that both sides agreed to meet in Washington in October.

The two sides will continue talking before then, according to the Commerce Ministry.

A spokesperson for Lighthizers department confirmed the two sides talked and agreed to hold talks in the US capital in the coming weeks.

Global markets have spent last few weeks ina state of anxiety

as the US-China trade war has escalated dramatically. Thelatest round of tariffsthe United States and China imposed on each other went into effect on Sunday. More tariffs areon the way.

Any sliver of optimism on the trade war front will be viewed in a very positive light, said Stephen Innes, a market strategist for Asia Pacific at AxiTrader. Surely both parties cant be happy to move forward with their scorched earth policy.

The gains will likely extend into Wall Street trading hours, said Jeffrey Halley, senior market analyst at Asia Pacific for Oanda. But he said investors need to be cautious about what will happen in the long term.

We will need to see some sort of concrete deal put in place and a winding back of tariffs before I will start getting excited about the global economic outlook for 2020, Halley said.

US futures also rallied during Asia hours. The

, however, fell Thursday afternoon. The index was down 0.8%, erasing earlier gains.

The drop came a day after the Hang Seng rallied nearly 4% its best day of the year. That jump came after reports, subsequently confirmed, that Hong Kong leader Carrie Lam wouldformally withdraw a controversial extradition billthat sparked months of protests in the financial hub.

Hong Kong property developers in particular pulled back from their huge gains Wednesday.

Cathay Pacific, Hong Kongs flagship airline, fell nearly 3%. The companyannounced late Wednesdayin a filing with the stock exchange that Chairman John Slosar would step down. Cathay is not listed on the Hang Seng.