Asian Stocks Dip after Xi-Trump Talks, and Traders Await Jobs Data – Asia Market Wrap

Asian stocks rose ahead of trade talks between China and the US Monday that have the potential to cool tensions between the world’s two largest economies.

A regional stock gauge jumped 0.9% before the London talks with technology shares advancing on Meta Platforms Inc.’s investment plans. Chinese shares listed in Hong Kong jumped 1.1% and were poised to enter a bull market – trader parlance for a rise of 20% from a recent low. A key gauge for emerging market equities rose 0.7%, set for its highest close since February 2022.

The dollar declined against all of its Group-of-10 peers. Yields on 10- year Treasuries dipped about 2 basis points to 4.49%, after surging Friday. Equity-index futures for the S&P 500 declined 0.2% while those for European stocks retreated 0.1%.

Trade tensions appeared to recede between President Donald Trump and China’s Xi Jinping as an impasse on critical minerals was broken, paving the way for further trade talks. Adding to the optimism in the stock market was the surprise in jobs data Friday, which eased fears of a recession in the world’s biggest economy.