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European stocks and US futures rose on Monday after Donald Trump appeared to take a more conciliatory tone towards China, saying that the US \u201cwants to help China, not hurt it!!!\u201d<\/p>\n
In a post on his Truth Social platform on Sunday, Trump wrote: \u201cHighly respected President Xi just had a bad moment. He doesn\u2019t want Depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!!!\u201d<\/p>\n
Trump<\/a>\u2019s post came after the US president on Friday had threatened to impose additional 100 per cent tariffs on China and suggested he could cancel a planned summit with President Xi Jinping later this month.<\/p>\n The threats from Trump, which he made in response to a package of export controls on rare earths<\/a> that Beijing unveiled last week, came after Asian markets closed at the end of last week. But they sent the S&P 500 down 2.7 per cent on Friday, its steepest one-day drop since April.<\/p>\n Early on Monday, futures tracking the S&P 500 rose 1.4 per cent, clawing back some of Friday\u2019s drop. Futures tracking the tech-heavy Nasdaq 100 were up 1.9 per cent.<\/p>\n \u201cThe last 72 hours show there is still scope for a negotiated agreement or just the current situation to be rolled forward,\u201d said Geoffrey Yu, a senior strategist at BNY in London.<\/p>\n In Europe, the Stoxx Europe 600 index was up 0.4 per cent by late morning on Monday, with France\u2019s Cac 40 and Germany\u2019s Dax each rising 0.5 per cent. The FTSE 100 was up 0.1 per cent.<\/p>\n In Asia, stock markets fell on Monday in spite of Trump\u2019s more accommodative tone. Hong Kong\u2019s Hang Seng index dropped 1.5 per cent, Japan\u2019s Topix fell 1.9 per cent and Taiwan\u2019s Taiex lost 1.4 per cent. Mainland China\u2019s CSI 300 index closed 0.5 per cent lower. <\/p>\n \u201cAsian economies are among the most exposed to trade and China uncertainties compared to other regions,\u201d said Bum Ki Son, a senior regional economist at Barclays in Singapore. <\/p>\n The moves came after Beijing criticised Trump\u2019s plan to impose additional tariffs on Chinese exports and threatened new countermeasures on Sunday. \u201cChina\u2019s position on tariff wars<\/a> has been consistent: we do not want to fight but we are not afraid to fight,\u201d said the commerce ministry.<\/p>\n