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Asian Equities Rise as Trump Says Meeting with Xi was “Productive”

Asian equities rose in morning trade on Friday
Asian equities rose in morning trade on Friday

Investing.com - Asian equities rose in morning trade on Friday, with Chinese stocks gaining around 2% on reports that U.S. President Donald Trump said he had a productive conversation with Chinese President Xi Jinping on trade.

"Those discussions are moving along nicely," Trump wrote on Twitter Thursday. "Also had good discussion on North Korea!" Trump and Xi are due to meet at the G-20 summit later this month.

Trump said the door is still open for U.S.-China trade talks, just days after reports said he was considering imposing tariffs on all remaining Chinese imports by early December if discussions between the two leaders do not go well.

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China’s Shanghai Composite and the Shenzhen Component jumped 1.4% and 2.5% respectively by 10:00 PM ET (02:00 GMT). Hong Kong’s Hang Seng Index also traded 2.5% higher.

Apple Inc (NASDAQ:AAPL) took centre stage on Wall Street on Thursday after the company reported light guidance and announced major changes to its reporting structure.

The company is forecasting earnings for the first quarter in the range of $89 billion to $93 billion, extending just slightly below analyst estimates of $93.02 billion.

Starting next quarter, Apple will no longer report individual sales figures for the iPhone, iPad and Mac, according to a company statement.

The company’s market cap fell below its historic $1 trillion at one point, as its shares fell more than 7%.

Elsewhere in Asia, Japan’s Nikkei 225 advanced 1.2%. South Korea’s KOSPI gained 2.2%.

Down under, Australia’s ASX 200 slipped 0.4%.

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