Energies
U.S. President Trump claimed ongoing trade talks with China, contradicting Chinese officials’ denials. China’s Ministry of Commerce rejected these claims, with spokesperson He Yadong stating there were “absolutely no negotiations” and demanding the U.S. cancel its tariffs.
Trump and Treasury Secretary Bessent suggested possible easing of tensions, despite recent 145% U.S. tariffs and China’s retaliatory measures on goods and critical minerals.
Both Chinese Commerce and Foreign Ministry spokespersons maintained China would only negotiate if treated as an equal.
Asian markets climbed following Wall Street’s third consecutive day of gains amid softening U.S.-China trade tensions. China reportedly considers waiving its 125% tariff on some U.S. goods,.
Hong Kong’s Hang Seng Index rose 1.36%, Japan’s Nikkei 225 gained 1.88%, and South Korea’s Kospi added 1.07%.
U.S. futures showed modest gains, with S&P 500 futures up 0.3% and Nasdaq-100 futures rising 0.4%.
Tech leaders Nvidia, Meta, Amazon, Tesla and Microsoft led the gains.
Alphabet, Google’s parent company, exceeded Q1 expectations. Search and ad revenue remained strong despite AI competition, with total revenue up 12% vs 10% expected. Shares jumped 5% after hours.
The International Monetary Fund (IMF) cut its 2025 Asia growth forecast to 3.9% from 4.6%.
Trade policy uncertainty poses risks for the region, IMF Asia-Pacific director Krishna Srinivasan said Thursday, though regional central banks could offset some impact through monetary easing.
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