New news comes from the tariff war! Global stock markets are boiling, with the Hang Seng TECH Index rising by 3% at one point, and S&P 500 futures up by 0.7%

Wallstreetcn
2025.05.02 22:44
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The FTSE China A50 Index rose nearly 1%. Hong Kong stocks surged, with the Hang Seng Index up over 1%. In the US and European markets, S&P 500 index futures reversed earlier losses, rising 0.7%, Dow futures increased by 0.8%, and Nasdaq 100 index futures climbed 0.4%. German and UK index futures both rose over 1%

According to Securities Times, the Chinese Ministry of Commerce stated on Friday that the U.S. side has recently actively conveyed information to the Chinese side through relevant channels, hoping to engage in talks. In response, the Chinese side is currently conducting an assessment.

This news instantly ignited market optimism, with global stock markets generally strengthening on Friday. Meanwhile, the performance of American tech giants was mixed, as investors turned their attention to the U.S. non-farm payroll report set to be released on Friday.

Asia-Pacific stock markets rose significantly on Friday, with the MSCI Asia-Pacific Index up 0.6%, and the Nikkei 225 Index rising more than 1% at one point.

The FTSE China A50 Index rose nearly 1%. Hong Kong stocks surged, with the Hang Seng Index up over 1%, and the Hang Seng TECH Index rising more than 3% at one point, led by XPeng, while Xiaomi Group rose over 4%. A-shares were closed due to the May Day holiday.

In the European and American markets, S&P 500 futures reversed earlier losses, jumping 0.7%, Dow futures rose 0.8%, and Nasdaq 100 futures increased by 0.4%.

German and UK index futures both rose over 1%.

In the foreign exchange market, the offshore yuan rose to 7.2519 against the U.S. dollar, the highest level since late March.

As the Bank of Japan indicated that the time to achieve its inflation target would be longer than previously expected, traders reduced bets on further interest rate hikes, causing the yen to weaken against the U.S. dollar.

Japan's chief negotiator stated after the latest round of talks in Washington that Japan plans to reach a trade agreement with the U.S. in June, with high-risk bilateral discussions expected to accelerate in mid-May

Market Focus on Friday's Non-Farm Payroll Report

"Regardless of which side takes the initiative, this is a significant development," said Steven Leung, Executive Director of UOB Kay Hian Hong Kong Limited. "The financial markets should see a wave of short covering, as the market now has higher expectations for a solution to break the current deadlock."

The S&P 500 index has risen for eight consecutive trading days—its longest upward momentum since last August—due to increasing optimism in the market about easing trade tensions.

However, this optimism is facing a test as investors turn their attention to the upcoming U.S. non-farm payroll report to be released on Friday—the last major data of the week.

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