Shares rise as US, China trade negotiators talk

TheStar Fri, May 08, 2020 03:07pm - 3 years View Original


FILE PHOTO: People who lost their jobs wait in line to file for unemployment following an outbreak of the coronavirus disease (COVID-19), at an Arkansas Workforce Center in Fayetteville, Arkansas, U.S. April 6, 2020. REUTERS/Nick Oxford/File Photo

SHANGHAI/NEW YORK: Asian shares rose on Friday as a phone call between U.S. and Chinese officials raised hopes that trade tensions were easing, turning the focus away from looming data expected to show the American economy lost the most jobs since the Great Depression.

European equities were set to maintain the good cheer, with pan-region Euro Stoxx 50 futures up 0.94% at 2,888 points, German DAX futures up 1.28% at 10,883 and France's CAC 40 futures 0.81% higher at 4,529.5.

Asian markets, which had opened higher following gains on Wall Street overnight, got a further boost on news that U.S. and Chinese trade representatives had held a phone call and pledged to improve the atmosphere for the implementation of the two countries' Phase 1 trade deal.

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