Asian stocks posted strong gains on Friday after US Presisent Donald Trump hailed positive talks with Chinese President Xi Jinping and a report said he had asked officials in his administration to start drafting a potential trade deal with Beijing.
Mainland China indices surged as traders seized on the news, hoping for a breakthrough in a standoff that has rocked world markets.
In Hong Kong, Tencent jumped 9.29 percent, ZTE saw gains of 12.2 percent and Geely Automobile skyrocketed 11.72 percent as the easing of trade tensions helped lift shares.
South Korean, Japanese and Australian stocks also ended the trading day higher on the back of the report.
European markets closed mixed as investors anticipate US sanctions on Iran's crude exports, which are scheduled to go into effect on Sunday. Reports said that Washington has allowed eight countries, including India, Japan and South Korea, to continue buying from Iran after the sanctions have come into effect to stop prices surging, as long as they agree to reduce purchases.
Across the Atlantic, U.S. stocks closed in the red. The downturn on Wall Street was led by Apple. The Cupertino-based tech giant sank 6.6% after stating in its earnings release that it won't disclose its iPhone, iPad and Mac unit sales starting from next quarter.
World Markets Headlines Today
Asian markets closed sharply higher today with shares in Hong Kong leading the region (CNN Money)
India: Sensex rises 580 points, posts biggest weekly gain in 2 years (Mint)
Australia: ASX surges on trade deal talk (The Australian Business Review)
European stocks jump at open (Fin24)
European markets rise on hopes of a US-China trade agreement; banks in the spotlight (CNBC)
European Shares Join Global Rally As Trade Tensions Ease (RTT News)
U.S. Stocks Decline as Investors Assess Trade Talk (Bloomberg)
Dow cuts intraday loss after Trump says 'we'll make a deal with China', countering Kudlow remarks (Marketwatch)
Dow Spins Lower as Apple Slides, Anxiety Grows Over U.S.-China Trade Deal (The Street)
Gold prices steady ahead of US nonfarm payroll data, Oil prices down on surging output, but Iran sanctions loom (Reuters)
All Continents Stock Indices Closing Prices
Tokyo’s NIKKEI jumped 2.56% and Shanghai’s Composite surged 2.70%. Shenzhen’s Composite was higher by 3.44%. Hong Kong’s Hang Seng Index skyrocketed 4.21%. Mumbai’s Sensex was up 1.65% while the NIFTY 50 grew 1.66%. Australia’s ASX200 rose 0.14% while New Zealand’s NZ50 fell 0.09%. Seoul’s KOSPI jumped 3.53%. Singapore’s STI added 1.81%. Thailand’s SET climbed 0.86% and Jakarta’s Composite increased 1.21%. Malaysia’s KLCI was up 0.41% and Taiwan’s TWI added 0.63%.
The Paneuropean STOXX 600 rose 0.28%. London’s FTSE was off 0.29% and Germany’s DAX added 0.44%. France’s CAC gained 0.32%. Amsterdam’s AEX grew 0.19% and Belgium’s BEL20 was higher by 0.53%. In Lisbon, the PSI20 fell 0.70%. Moscow’s IMOEX advanced 0.79% and Milan’s FTSE MIB finished the day 1.07% in the green. Spain's IBEX35 rose 0.43%. The Swiss Market Index was down 0.28%.
In Scandinavia, Oslo’s OBX was up 0.31%. Helsinki’s OMXHPI increased 1.64%. Stockholm’s OMXS30 climbed 1.32%. Copenhagen’s OMXC25 advanced 0.70%.
In Central Eastern Europe, Budapest’s stock exchange was closed for a public holiday. Warsaw’s WIG added 1.82%. Bratislava’s SAX was up 0.13%.
In the Baltics, OMX Tallinn was higher by 0.21% and OMX Riga grew 0.24%. OMX Vilse increased 0.71%.
In Southeastern Europe, Bucharest's BET ticked up 0.04% and Sofia's SOFIX also rose 0.04%. Belgrade's BELEX15 grew 0.31%. Podgorica's MNSE10 was unchanged. Sarajevo's SASX added 0.18%. Banja Luka's BIRS ws unchanged. Ljubljana's SBITOP grew 1.18%. Zagreb's CROBEX lost 0.52%. Skopje's MBI10 finished the day 0.10% in the green. Istanbul’s BIST100 advanced 1.88%. In Athens, the Composite Index ticked up 0.01%. Nicosia’s General Index dropped 0.37%.
Dar Es Salaam’s DCI ticked down 0.03% NS Lusaka’s ASI added 0.30%. Casablanca’s MASI was off 0.31%. Malawi’s ASI fell 0.04%. Nigeria’s ASI gained 0.37%. Nairobi’s ASI was up 1.92%. Rwanda’s ASI decreased 1.48%. Uganda’s ASI grew 0.86% and Zimbabwe’s Industrial Index lost 1.48%.
In the U.S., the Dow Jones fell 0.43% and the S&P 500 lost 0.63%. The Nasdaq was off 1.04%. Canada's S&P/TSX Composite dropped 0.20%. Mexico's IPC jumped 3.42%. Brazil's Bovespa surged 5.52%.