Key points
- US stocks have rallied for a third straight session
- Tokyo has jumped 1.9pc
- Hong Kong was up 0.3 per cent
ISLAMABAD: Asian and European stocks climbed on Friday, buoyed by a rally on Wall Street and the prospect of trade deals progressing between the United States and some of its economic partners.
According to AFP, US stocks rallied for a third straight session on Thursday, shrugging off signs that US trade deals with China and the European Union are not imminent despite promising signs elsewhere.
China said on Thursday any claims of ongoing trade talks with the US were “groundless” after US President Donald Trump played up the prospects of a deal to lower the 145 per cent tariffs he imposed on most Chinese exports, AFP reported.
Global markets
France’s economy minister Eric Lombard said a trade deal between the United States and the European Union was also a way off, according to France 24. However, global markets appear to have brushed aside the lack of progress, AFP reported.
“There are mixed signals about whether there have been some talks about trade between the US and China,” AFP cited Lloyd Chan, a senior currency analyst at MUFG as saying.
China’s top leaders urged more support for the economy and opposed “unilateral bullying” in global trade, according to a readout of a meeting published by state media on Friday.
Tokyo jumped 1.9 per cent and Hong Kong was up 0.3 per cent, while Shanghai was flat.
Seoul jumped one per cent after US Treasury Secretary Scott Bessent said a trade “understanding” between South Korea and the United States could be reached by next week. Taipei, Wellington, Singapore, Manila, Bangkok and Jakarta also climbed.
