Asian stocks rebounded Friday on hopes U.S.-Chinese talks next month might produce progress toward ending a costly tariff war over trade and technology.
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Benchmarks in the major Asian markets all followed Wall Street higher.
China’s Shanghai Composite gained 0.6 percent,Japan’s Nikkei rose 1 percent and Hong Kong’s Hang Seng was 0.7 percent.
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Investors were encouraged by a Chinese government statement Thursday that its penalties on U.S. imports are adequate. That suggested Beijing might be pausing in a tit-for-tat cycle of tariff hikes by both sides that has fueled fears the fight will tip the global economy into recession.
U.S. equity futures are pointing to small gains when the bell rings on Wall Street.
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Stocks finished Thursday with broad gains, driving the Dow Jones Industrial Average more than 300 points higher.
The S&P 500 index rose 1.3 percent, the Dow climbed 1.3 percent and the Nasdaq gained 1.5 percent.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 26362.25 | +326.15 | +1.25% |
| SP500 | S&P 500 | 2924.58 | +36.64 | +1.27% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7973.394165 | +116.51 | +1.48% |
Some analysts say Beijing might be hoping to strike a more favorable deal if President Donald Trump is under pressure during his re-election campaign — or might hold out to negotiate with his successor if he loses.
Washington and Beijing are deadlocked in talks over U.S. complaints about China’s trade surplus and industry plans its trading partners say are based on stealing or pressuring companies to hand over technology.
Tit-for-tat tariff hikes by both sides have depressed trade, prompting fears the fight might tip the global economy into recession.
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Negotiators are due to meet next month in Washington after the latest round of talks in July in Shanghai produced no sign of progress.
The Associated Press contributed to this article.
