SYDNEY (Reuters) – Asian stocks looked set for guarded gains on Friday on reports North Korean leader Kim Jong Un had offered to stop nuclear testing and to arrange a meeting with U.S. President Donald Trump.
Fox News reported the offer was to be announced by South Korea’s national security adviser at a White House event at 0000 GMT.
Mood - Trump - Tariffs - Exemptions - Canada
The mood had already brightened a little after Trump pressed ahead with tariffs but offered conditional exemptions for Canada and Mexico, offering at least the hope a full-blown trade war could be averted.
Several major trading partners have said they will respond with tariffs or direct action of their own.
Markets - Exclusions - Caveats - Reciprocity - Kind
“Markets have cheered up a little but exclusions are likely to come with caveats demanding reciprocity – that’s the kind of guy the President is,” said Greg McKenna, chief market strategist at broker AxiTrader.
“Fears have been eased in the immediate term, but it’s clear that China, and to a lesser extent the EU, is about to come in for greater scrutiny.”
MSCI - Index - Asia-Pacific - Shares - Japan
MSCI’s broadest index of Asia-Pacific shares outside Japan was barely changed, while Australia firmed a fraction.
Futures for Japan’s Nikkei pointed to opening gains of around 150 points for that market .
Futures - S - P - Percent - Wall
E-Mini futures for the S&P 500 were up 0.1 percent, after Wall Street got a late lift from the tariff news. The Dow ended Thursday with a gain of 0.38 percent, while the S&P 500 added 0.45 percent and the Nasdaq 0.42 percent.
The Canadian dollar and Mexican peso inched higher, though both countries remain locked in tough negotiations with the United States over NAFTA.
ECB - Bias - Draghi - Rush
While the ECB did drop its easing bias as some expected, Draghi sounded in no rush to...
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