Asian markets rose Friday, tracking gains on Wall Street following a report that the United States could delay its plan to hit Mexico with tariffs, reports BSS/AFP. The threats against Mexico have intensified anxiety among investors, who were already rattled by the seemingly endless US-China trade war.
But US stocks enjoyed a bounce Thursday after Bloomberg News reported that Washington could push back its plan to impose tariffs on Mexico on June 10 to allow more time for talks on illegal immigration. Upbeat comments from Mexican Foreign Minister Marcelo Ebrard, who said the talks with US officials had yielded progress, added to the positive mood.
Export-dependent Mexico has been scrambling to stem the flow of Central American migrants to the US — deploying troops along its border with Guatemala, blocking a new caravan and freezing the bank accounts of suspected human traffickers — in a bid to appease Washington. “The slightly better tone to the Mexico immigration negotiations has seen all US major equity indices end the day in positive territory,” Rodrigo Catril, strategist at National Australia Bank, said in a commentary.
Tokyo closed 0.5 percent higher Friday. Sydney jumped 1.0 percent and Seoul edged up 0.2 percent while Singapore climbed 0.4 percent. Markets in Hong Kong and mainland China were closed for a public holiday. European markets made modest gains in early trade, with London and Paris rising 0.5 percent while Frankfurt was up 0.4 percent. Amid mounting concern for the health of the global economy, central bankers have taken a dovish stance to head off a recession.
