— Global stocks rose Friday on hopes that next month’s US-Chinese talks might produce progress toward ending a costly tariff war over trade and technology.London and Frankfurt gained in early trading. Tokyo closed higher while Shanghai was unchanged.
That suggested Beijing might be pausing in a tit-for-tat cycle of tariff hikes by both sides that have fueled fears the global economy might tip into recession. Some analysts say Beijing might be waiting for President Donald Trump’s re-election campaign in hopes he will feel pressure to strike a deal — or is holding out to negotiate with his successor if he loses.London’s FTSE rose 0.5% to 7,221.21 in early trading and Germany’s DAX gained 1% to 11,953.97. France’s CAC 40 added 0.8% to 5,492.15.
In Asia, Tokyo’s Nikkei 225 closed up 1.2% at 20,704.37 and Hong Kong’s Hang Seng added 21 points to 25,724.73. The Shanghai Composite Index was off less than 5 points at 2,886.24.India’s Sensex gained 0.4% to 37,212.79. Markets in Taiwan, New Zealand, and Southeast Asia rose.The S&P 500 and Dow both rose 1.3% and the Nasdaq gained 1.5%. The S&P 500 is on track for its first weekly gain in five weeks.