Asian markets climb as Wall Street rallies for seventh straight session
Asian shares moved higher on Thursday, with several markets closed for Labor Day holidays, following a strong rebound on Wall Street where US stocks overcame early losses to notch a seventh consecutive day of gains.
Investor sentiment remains cautious amid ongoing uncertainty over the potential economic fallout from President Donald Trump’s trade policies.
Japan’s Nikkei 225 advanced 1.1% in afternoon trading to 36,447.26 after the Bank of Japan opted to leave its benchmark interest rate unchanged, reflecting concerns about the broader economic impact of US trade tensions.
Australia’s S&P/ASX 200 inched up 0.2% to 8,145.60.
On Wall Street, the S&P 500 closed 0.1% higher at 5,569.06, continuing its winning streak. The Dow Jones Industrial Average gained 0.3% to finish at 40,669.36, while the Nasdaq Composite dipped slightly, down 0.1% to 17,446.34.
US seeks tariff talks with China as Trump signals optimism over potential deal
The United States has reportedly approached China to initiate discussions on tariffs, according to sources linked to Beijing’s state media, as President Donald Trump expressed confidence in the prospects of a bilateral agreement.
Yuyuan Tantian, a social media platform associated with China’s state broadcaster CCTV, stated that the US has “proactively reached out to China through multiple channels.”
