Most of the world’s stock markets started the day higher on Friday, welcoming with optimism a resumption of diplomatic contacts between China and the United States.
On Friday, the world’s stock markets welcomed with optimism a first sign of easing of geopolitical tensions between the United States and China, in a global economic context still uncertain.
The European markets started the last session of the week up. Around 11 am, Paris was up 0.99%, London 0.46%, Frankfurt 0.61% and Milan 1.15%. On the Zurich Stock Exchange, the leading index SMI gained 0.67%.
In Asia, Tokyo took 0.90%, galvanized by corporate results. Hong Kong, which had started the session up, was down 0.58% on Friday at 11 am while Shanghai lost 1.12%.
Wall Street had ended in small shape on Thursday, weighed down by renewed stress around U.S. regional banks, after PacWest Bank reported that many customers had withdrawn deposits in early May. The Dow Jones index ended down 0.66% and the S&P 500 index down 0.17%, while the Nasdaq Composite rose 0.18%.
Optimistic outlook
This stock market optimism is due to the resumption of contact at a high diplomatic level between Washington and Beijing. The US President’s National Security Advisor, Jake Sullivan, met with Chinese diplomatic chief Wang Yi on Wednesday and Thursday in Vienna, after more than two months of cold weather.
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