Asian stocks are mixed after hopes for China-US talks, UK trade deal lift Wall Street

In Asia, stock markets had a mixed performance on Friday as investors awaited the trade discussions between China and the U.S. happening over the weekend. U.S. futures and oil prices saw slight increases.

China reported an 8.1% rise in exports in April, which was lower than the previous month’s 12.4%. However, exports to the U.S. dropped by over 20% due to the impact of President Trump’s tariffs. The Hang Seng in Hong Kong slipped by 0.1%, while the Shanghai Composite Index lost 0.3%.

Important trade officials from the U.S. and China are scheduled to meet in Switzerland on Saturday. President Trump hinted at the possibility of reducing tariffs on Chinese imports if the talks go well. The Nikkei 225 in Tokyo surged by 1.5%, while the Kospi in Seoul remained almost unchanged. Australia’s S&P/ASX 200 added 0.4%, and Taiwan’s Taiex jumped by 1.7%.

The U.S. stock market saw gains after the U.S. and U.K. reached a trade agreement to reduce some tariffs. This news, along with positive profit reports from U.S. companies, lifted the S&P 500 close to its all-time high.

Axon Enterprise and Tapestry were among the companies that reported strong earnings, while Molson Coors and Krispy Kreme faced challenges. The U.S. economy remains stable, but concerns about tariffs impacting household sentiment and economic growth persist.

In early trading on Friday, U.S. benchmark crude oil prices rose, with Brent crude also seeing an increase. The U.S. dollar weakened against the Japanese yen but strengthened against the euro.