Asian stocks climbed to the highest level in more than a month and US equity-index futures advanced Friday after China said it’s evaluating trade talks with the US, boosting optimism that tariff tensions will tamp down.
A regional gauge rose 1.5% as China assessed talks after senior US officials repeatedly expressed a willingness to discuss. Japanese shares rose 1.1% on positive comments from the country’s chief trade negotiator. Contracts for the S&P 500 and European stocks jumped.
The MSCI EM Currency Index advanced 0.5% to a record high. Gold was set for its first back-to-back weekly loss this year while 10-year Treasuries fell.
“This is a great move, no matter which side takes the initiative,” said Steven Leung, executive director at UOB Kay Hian Hong Kong Ltd.
“There should be a round of short covering in financial market as hopes are now rising for a solution for the current deadlock.”
The S&P 500 has gained for eight consecutive days – the longest run since August – amid increased optimism that trade tensions are waning since President Donald Trump announced century-high levies April 2.
