Stock markets staged a relief rally after US Commerce Secretary Howard Lutnick said the Trump administration may walk back some tariffs.
Hong Kong shares led the gains as China’s economic growth target spurred bets of more stimulus.
Traders are wading through a slew of news, with Beijing’s annual work report, Lutnick’s hints of a tariff compromise with Canada and Mexico, and Germany’s plan to boost defense spending all impacting markets.
Both US and European equity-index futures gained as President Donald Trump defended his economic plans, while a regional Asian gauge rebounded.
Treasuries held Tuesday’s declines and the dollar strengthened against all the Group-of-10 currencies.
Chinese shares in Hong Kong outperformed after the National People’s Congress in Beijing set an economic growth target of about 5% for 2025, a third straight year it has maintained that goal.
Given the broadening global uncertainty on tariffs and geopolitics, economists expect Chinese officials to add stimulus.
