Investing.com - Asian markets rose in morning trade on Friday after China hinted that it wants to reduce tensions with the U.S.
Japan’s Nikkei 225 gained 0.9% by 10:15 PM ET (04:15 GMT). Government data showed the country’s industrial output rose 1.3% in July, outperforming the expected 0.3% gain.
Manufacturers surveyed by the Ministry of Economy, Trade and Industry expect output to rise 1.3% in August and decline 1.6% in September, the data showed.
China’s Shanghai Composite and the Shenzhen Component climbed 0.5% and 0.6% respectively.
Hong Kong’s Hang Seng Index traded 0.7% higher. South Korea’s KOSPI jumped 1.7%.
Down under, Australia’s ASX 200 was up 1.3%.
The gains of Asian equities came following comments from Gao Feng, spokesman for China's Foreign Ministry, that Beijing would not retaliate for now against U.S. President Donald Trump's latest tariff moves.
Gao also said China is “willing to negotiate and collaborate in order to solve this problem with calm attitude,” although the spokesman said Beijing wants to see some of those rolled back so that the two sides can negotiate in September.
“China has plenty of means for counter measures, but under the current situation, the question that should be discussed right now is about removing the U.S.′ new tariffs on $550 billion Chinese goods to prevent escalation of the trade war,” Gao said.
Meanwhile, Trump said the U.S. and China are set to have trade talks later in the day “at a different level.”
“There’s a talk scheduled for today at a different level,” Trump said in an interview with Fox News Radio without elaborating on what “a different level” means.
The Wall Street closed higher amid the positive trade news. The S&P 500 rose 1.27%. The Dow Jones industrials climbed 1.25%, and the Nasdaq Composite added 1.48%. The Nasdaq 100 index, dominated by big tech stocks, added 1.51%.