Asian markets were mostly higher on Friday, following a strong rally on Wall Street that brought U.S. stocks close to new record highs. U.S. stock futures and oil prices also posted modest gains.
Investors remained focused on trade developments after former President Donald Trump announced that a trade agreement had been signed between the U.S. and China. Commerce Secretary Howard Lutnick confirmed the signing in a Bloomberg TV interview, noting it occurred two days earlier, though he offered few specifics, saying, “The president likes to finalize these deals himself.”
Concerns over Trump’s proposed tariff hikes—first introduced with surprise in April—have eased somewhat, though uncertainty remains. Markets are still awaiting clarity on the final scope of the tariffs, their potential impact on economic growth, and the risk of rising inflation.
In Asia, Hong Kong’s Hang Seng index was nearly flat at 24,333.43, while China’s Shanghai Composite dipped 0.2% to close at 3,441.30.
