World stocks recover as US-China trade talks extended

Published 02-15-2019

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SINGAPORE (AP) - World stock markets bounced back on Friday after Chinese officials said trade talks with the U.S. would continue in Washington next week. Markets had been dragging on the absence of good news as the U.S. and China concluded talks in Beijing.

European markets also rose even as Spanish Prime Minister Pedro Sanchez announced an early election scheduled for April 28. France's CAC 40 rose 1.1 percent to 5,118 while the DAX in Germany gained 1 percent to 11,202. Britain's FTSE 100 moved 0.5 percent higher to 7,229.

Wall Street's open also turned brighter on the news of extended trade talks. S&P 500 futures added 0.1 percent to 2,747 after retreating 0.3 percent earlier. Futures for the Dow also moved 0.1 percent higher to 25,457 after being down 0.4 percent.

With a March 2 deadline looming, U.S. and Chinese negotiators will meet in Washington next week for more talks on a tariff war over Beijing's technology ambitions, China's government said Friday.

The announcement came after U.S. Trade Representative Robert Lighthizer told Chinese President Xi Jinping that negotiators had "made headway" on important issues in two days of talks that wrapped up Friday in Beijing.

Officials expressed optimism but gave no details of this week's negotiations, which had been the last scheduled before a planned American tariff hike on $200 billion of Chinese imports on March 2.

THE DAY IN ASIA: Japan's benchmark Nikkei 225 retreated 1.1 percent to 20,900.63 and the Kospi in South Korea tumbled 1.3 percent to 2,196.09. Hong Kong's Hang Seng gave up 1.9 percent to 27,900.84. The Shanghai Composite was 1.4 percent lower at 2,682.39. Australia's S&P/ASX 200 bucked the regional trend, picking up 0.1 percent to 6,066.10. Shares fell Taiwan and throughout Southeast Asia.

ENERGY: U.S. crude lost 23 cents to $54.64 per barrel in electronic trading on the New York Mercantile Exchange. It gained 51 cents to settle at $54.41 per barrel in New York on Thursday. Brent crude, used to price international oils, rose 25 cents to $64.82 per barrel. It rose 96 cents to close at $64.57 per barrel in London.

CURRENCIES: The dollar eased slightly to 110.44 yen from 110.45 yen late Thursday. The euro slipped to $1.1278 from $1.1296.

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Ott reported from Madrid.

THE DAY IN ASIA: Japan's benchmark Nikkei 225 retreated 1.1 percent to 20,900.63 and the Kospi in South Korea tumbled 1.3 percent to 2,196.09. Hong Kong's Hang Seng gave up 1.9 percent to 27,900.84. The Shanghai Composite was 1.4 percent lower at 2,682.39. Australia's S&P/ASX 200 bucked the regional trend, picking up 0.1 percent to 6,066.10. Shares fell Taiwan and throughout Southeast Asia.

ENERGY: U.S. crude lost 23 cents to $54.64 per barrel in electronic trading on the New York Mercantile Exchange. It gained 51 cents to settle at $54.41 per barrel in New York on Thursday. Brent crude, used to price international oils, rose 25 cents to $64.82 per barrel. It rose 96 cents to close at $64.57 per barrel in London.

CURRENCIES: The dollar eased slightly to 110.44 yen from 110.45 yen late Thursday. The euro slipped to $1.1278 from $1.1296.

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Ott reported from Madrid.

CURRENCIES: The dollar eased slightly to 110.44 yen from 110.45 yen late Thursday. The euro slipped to $1.1278 from $1.1296.

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Ott reported from Madrid.

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