Asian markets gave a mixed performance on Friday as investors watched cautiously ahead of crucial trade talks between China and the United States scheduled for the weekend in Geneva.US futures and oil prices also received a small boost on hopes that talks could ease ongoing tensions.The Shanghai Composite fell 0.3%, ending the day at 3,343.38 while Hong Kong’s Hang Seng tanked 0.1% to 22,777.82. Meanwhile, Tokyo’s Nikkei 225 rose 1.5% to 37,493.65. Taiwan’s Taiex also followed the suit, surging 1.7%. Australia’s S&P/ASX 200 added 0.4% to 8,228.10 and Seoul’s Kospi remained flat at 2,578.64.Meanwhile, Wall Street closed higher on Thursday following news of a new trade agreement between the US and UK, which will reduce some tariffs and offer mutual benefits. The S&P 500 gained 0.6% to 5,663.94, the Dow Jones Industrial Average added 0.6% to 41,368.45, and the Nasdaq rose 1.1% to 17,928.14.In China, export figures for April showed an 8.1% annual rise, stronger than expected but slower than March’s 12.4% growth. However, exports to the US slumped over 20% amid stiff American tariffs introduced under President Donald Trump’s administration.Trump hailed the new pact as a “maxed-out trade deal,” noting it retains 10% tariffs on UK goods while easing duties on British cars and boosting US exports such as beef and ethanol.The US economy seems to be holding steady, according to the Federal Reserve, but consumer confidence remains fragile as trade tensions continue. A mixed bag of economic reports added to the uncertainty, with a small dip in jobless claims offset by weaker-than-expected productivity data.
