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Rising US exports shrink trade deficit; China imports fall

Rising US exports shrink trade deficit; China imports fall”

As of writing, Japan's Nikkei is adding 490 points or 2.37% and the S&P/ASX 200 is trading 55 points or 0.84%. France's CAC 40 index jumped 0.79% to hit a more than one-month high, outperforming major European bourses, aided by a 8% rise in shares of engine maker Safran after the company upped its full-year profit forecasts.

Less than a week after both Beijing and Washington implemented new tariffs, China's Ministry of Commerce has announced that the two nations are preparing to resume trade talks in October. The rallies come on top of yesterday's strong gains that were fueled by a surge in Hong Kong following the withdrawal of a controversial extradition bill.

Chinese authorities added that China Vice Premier and chief trade negotiator Liu He has spoken with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin over the phone about the talks.

More news: Tesla Model 3 interior now officially free of leather

Chinese and USA chief trade negotiators agreed on Thursday to jointly take concrete actions to create favorable conditions for further consultations in October. Stocks in Hong Kong and South Korea are also flashing green and the Chinese equities are up 1.5%.

Any sign that Washington and Beijing are closer to scaling back or resolving their trade dispute would lift a significant burden from the global economy, but many analysts believe the two sides are dug in for a longier and costlier battle.

In currency markets, sterling held onto gains against the dollar in Asia after rallying the most in more than five months on Wednesday after lawmakers voted to prevent Prime Minister Boris Johnson taking Britain out of the European Union without a deal on October 31.



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