Global stocks sank Wednesday after US President Donald Trump said he was not satisfied with talks that are aimed at averting a trade war with China. Equities were also dented by poor eurozone economic data, and as Trump cast doubt on a planned summit with North Korean leader Kim Jong Un. “Trump (is) continuing to drive uncertainty over global trade,” said analyst Joshua Mahony at trading firm IG. “European markets are following their Asian counterparts lower, as a pessimistic tone from Trump is compounded by downbeat economic data,” he added. Markets had surged Monday after US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He said they had agreed to pull back from imposing threatened tariffs on billions of dollars of goods, and continue talks on a variety of trade issues. However, Trump has declared that he was “not satisfied” with the status of the talks, fuelling worries that the world’s top two economies could still slug out an economically pain
Tokyo stocks opened higher on Friday, extending gains on Wall Street as investors regained confidence and set aside inflation fears that stoked volatility earlier in the month.
The benchmark Nikkei 225 index edged up 0.34 percent, or 72.34 points, to 21,537.32 in early trade, while the broader Topix index was up 0.54 percent, or 9.35 points, at 1,728.62.
“Risk-averse attitude will be receding gradually with a sense of bottoming out in US shares,” Okasan Online Securities said in a statement.
Wall Street stocks enjoyed more solid gains Thursday, climbing for a fifth straight session.
The Dow Jones Industrial Average rose 1.2 percent to close at 25,200.37.
In Tokyo on Friday, the dollar changed hands at 106.10 yen, against 106.14 yen in New York.
Sony rose 1.12 percent to 5,231 yen and Toyota gained 0.59 percent to 7,184 yen.
Tokyo Electron, a major manufacturer of chip-making equipment, gained 0.70 percent to 20,200 yen, after a brokerage upgraded its estimate of the firm’s value.
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