There\u2019s no shortage of superlatives to describe this equity rally: best four-day gain in more than two years, best week since February, first gain in six weeks and higher trading volume across the board. All it took was one telephone conversation between the leaders of the world\u2019s two largest economies. After their first publicly disclosed phone call in almost six months, Donald Trump said his Chinese counterpart wants to make a deal to end an escalating trade war. That sent the Shanghai Composite Index soaring, following this week\u2019s hints from the nation\u2019s leadership that additional stimulus measures may come soon. The Hang Seng Index rallied even further, with a jump of as much as 2.7 percent. Even Apple Inc.\u2019s lackluster earnings results didn\u2019t dampen the mood. While some of the company\u2019s suppliers fell in early trading, tech companies in the MSCI Asia Pacific Index topped all other sectors Friday, rising as much as 2.4 percent. There was also a myriad of other good news from the region: Chinese President Xi Jinping held a forum with officials from some major domestic private companies and pledged a better environment for them. With promises of tax cuts and financial support for non-state owned firms, the ChiNext Index rallied as much 3.8 percent, dwarfing the Shanghai Composite\u2019s gain. South Korea\u2019s Kospi index jumped the most in more than a year as earnings from companies such as Daelim Industries and GS Retail beat expectations, a decline in the price of crude sent petrochemical makers soaring, and China\u2019s stimulus plan sent metal-related stocks higher. Japan telcos rebounded after KDDI said it wouldn\u2019t follow NTT Docomo\u2019s mobile plan price cuts and confirmed reports it would tie-up with market newcomer Rakuten. The U.S.-China trade progress also lifted sentiment. The Nikkei 225 Stock Average came close to erasing Thursday\u2019s loss. Still, the skeptics are lurking. Given the unsettled trade dispute, some market participants remain unconvinced and see a technical rebound following \u201cshock-tober.\u201d "We had a such big magnitude of declines earlier, so people saw an opportunity to trade the rebound," said Linus Yip,chief strategist at First Shanghai Securities, \u201cBut whether we\u2019ve reached the bottom, I think it\u2019s yet to be seen.\u201d In a more moderate tone, JPMorgan Asset Management\u2019s Tai Hui is cautiously optimistic. \u201cUSD moderation, the stabilizing trade relationship between U.S. and China and more stimulus from Beijing will be the key ingredients to revive market confidence in Asia,\u201d he said in an email. \u201cWhile we are still cautious over a full resolution of recent tensions in the medium term, resumption of dialogue between Washington and Beijing would be good enough to investors for now.\u201d The week isn\u2019t over yet. Malaysia\u2019s 2019 budget is set to be released later Friday, and equity investors will be keeping a close eye. Last month, the nation\u2019s benchmark FTSE Bursa Malaysia Index plunged 3.7 percent in two days after Prime Minister Mahathir Mohamad said the government will devise new taxes soon to shore up a state budget that\u2019s been constrained by debt and changes to the consumption levy. There\u2019s also the U.S. jobs report, the final one before next Tuesday\u2019s congressional elections, which may show that hiring improved and the unemployment rate held at a 48-year low. Some other notable moves in the region: Chiyoda Falls 41% in Three Days; SMBC Nikko Sees Cash Shortfall CSR Drops Most in 3 Months as Building Product Earnings Decline KDDI Jumps After Saying It Won\u2019t Cut Rates, Plans Rakuten Tie-Up Nippon Sharyo Plunges to Daily Limit After Taiwan Train Report Chinese Airline Stocks Surge on Stronger Yuan, Sliding Oil Price For the next week, here is a list of some important events: Nov. 5: Xi Jinping addresses on the country\u2019s first International Import Expo. Nov. 6: the U.S. will vote in midterm elections to determine whether Republicans retain control of Congress and continue to implement Trump\u2019s agenda. Nov. 6-7: Michael Bloomberg will host hundreds of world and business leaders at the New Economy Forum in Singapore. Earnings include Toyota Motor, SoftBank, NTT, Westpac Banking, DBS, Nissan Motor, SingTel, Daikin Industries, Hong Kong Exchanges & Clearing, State Bank of India Stock-Market Summary Japan\u2019s Topix index little changed; Nikkei 225 up 0.7% Hong Kong\u2019s Hang Seng Index up 2.4%; Hang Seng China Enterprises up 2.3%; Shanghai Composite up 1.2% Taiwan\u2019s Taiex index little changed South Korea\u2019s Kospi index up 2.2%; Kospi 200 up 2.2% Australia\u2019s S&P\/ASX 200 down 0.5%; New Zealand\u2019s S&P\/NZX 50 little changed India\u2019s S&P BSE Sensex Index up 1.3%; NSE Nifty 50 up 1.3% Singapore\u2019s Straits Times Index up 0.7%; Malaysia\u2019s KLCI little changed; Jakarta Composite little changed; Thailand\u2019s SET up 0.6%; Vietnam\u2019s VN Index up 1%; The Philippines is closed for a holiday.