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- Global markets rise after US Treasury Secretary Steven Mnuchin raised the possibility of raising tariffs on imports from China.
- Senior administration officials denied this information, but the markets took it at face value and the stock rallied late Thursday.
- This rally continued on Friday with Chinese stock indexes gaining more than 2%. European stock indexes rose 1% in morning trading.
- Follow the latest market developments at Markets Insider.
Stock markets around the world rebounded Friday on hopes that tensions between China and the United States will dissipate.
Thursday night, the Wall Street Journal announced that US Treasury Secretary Steven Mnuchin had discussed the possibility of lifting all or part of the tariff on imports from China with Robert Lighthizer, US Trade Representative.
Such suggestions could be advanced during a new round of trade talks between Beijing and Washington in late January, the newspaper reported.
"Discussing the easing of tensions helped lift riskier badets," said Jasper Lawler, head of research at the London Capital Group, in a morning email. "It seems almost impossible to reasonably badess the current state of China-US relations, yet the market is suspended for each title, underlining how sensitive it is to the current trade problem. "
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The report was denied by a spokesman for Mnuchin, who said: "Neither Secretary Mnuchin nor Ambbadador Lighthizer has made any recommendation to anyone regarding tariffs or other parts of the negotiations with China. "
Markets, however, apparently ignored denial and focused on the WSJ report as US equities rallied at closing. This rally continued on Friday with Asian and European stocks rising on the last day of the week.
Here are what markets look like just before 10:00 GMT (5:00 pm ET):
- Chinese equities rose sharply in Friday trading, with all major indices on the continent up more than 1%. Paving the way was the China A50 , which ends the day up 2.1%. Elsewhere, Shanghai composite increased by 1.4%, while the shares of the Shenzhen component the index gained 1.5%.
- Elsewhere in Asia, inventories also rose. From Japan Nikkei finished 1.3% in positive territory, that of Hong Kong Hang Seng was 1.25% higher, and South Korea KOSPI was up 0.8%.
- In Europe, all major indexes are up during the first hour of trading, with gains of up to 1.15% compared to those in Spain. IBEX 35 . the Euro Stoxx 50 the general index is up by just over 1%.
- US futures are pointing to another positive day in the USA. the S & P 500 and Nasdaq are configured to open 0.25% higher, while the Dow Jones seeks to gain 0.35%. US indexes closed Thursday up about 0.7%.
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