On Thursday, stocks jumped from the last month’s sharp losses after the U.S. President Donald Trump indicated in comments about potential progress regarding the trade tensions between the United States and China.
The S&P 500 gained 1.1 percent and reached 2,740.37 with the materials foremost. The Dow Jones Industrial Average increased by 264.98 points and arrived at 25,380.74 as DowDuPont outperformed. The three-day gains for Dow have now reached more than 900 points. The Nasdaq Composite pulled back 1.8 percent to close at 7,434.06 and even moved ahead of the quarterly results of Apple.
On Thursday, Donald Trump tweeted that he had a very long and good conversation on trade with Xi Jinping, China’s President. He added that they are all set to meet at G-20 summit in Argentina.
On the other hand, Asia stocks were also higher after comments from Donald Trump and Wall Street gains. In China, Hong Kong’s Hang Seng index climbed 2.4 percent and the Shanghai Composite advanced 1.21 percent. The Shenzhen Composite gained 2.084 percent.
In South Korea, the Kospi gained 2.24 percent along with heavyweights like SK Hynix and Samsung Electronics, which saw gains of 3.81 percent and 2.14 percent, respectively.
The Nikkei 225 of Japan jumped 0.58 percent, whereas the Topix index traded lower after shedding its earlier gains. Over in Australia, the ASX 200 slipped 0.47 percent as the energy sector declined 1.76 percent. The financial subindex dropped by 1.03 percent.
However, Asian suppliers saw a mixed picture as shares of Murata Manufacturing, a component supplier slipped 1.94 percent and TDX, a Japanese electronic parts maker dropped 0.57 percent. In South Korea, LG Display rose 2.73 percent.
The U.S. dollar index was at 96.350 and the Japanese yen traded at 112.69 against the dollar while the Australian dollar was at $0.7198.