Global stock indexes rose Friday after their recent sharp declines on hopes that President Trump and his Chinese counterpart, Xi Jinping, will meet.
SINGAPORE (AP) — Global stock indexes rose Friday after their recent sharp declines on hopes that U. S. President Donald Trump and his Chinese counterpart, Xi Jinping, will meet at the Group of 20 summit next month.
The Wall Street Journal reported that the White House had informed officials in Beijing that it would go ahead with a meeting in Argentina.
It cited unidentified sources from both sides. The aim was to find a way out of the impasse over trade that has led both countries to impose penalty tariffs on billions of dollars of each other’s products.
Chinese foreign ministry spokesman Lu Kang offered no specifics beyond saying the country was in ‘‘communication’’ with the U. S at ‘‘all levels.’’
Strong Chinese export data also breathed life into stock markets that have fallen in recent days. Across-the-board selling, spurred by rising interest rates and trade tensions, had rocked Wall Street and rattled traders in Europe and Asia.
Markets are still ‘‘not out of the weeds’’ despite a ‘‘semblance of sanity returning,’’ said analyst Stephen Innes of trading platform OANDA.
France’s CAC 40 was up 0.6 percent to 5,139 while the DAX in Germany added 0.5 percent to 11,602. Britain’s FTSE 100 was 0.8 percent higher at 7,063.
The gains were supported by strong Chinese data. The country’s trade surplus with the United States grew to a record $34.1 billion in September, customs data showed. It marked a jump of 13 percent over a year earlier.
Chinese exports to the United States increased, although the growth was slower than in August.
