Share markets in Asia edged higher early on Friday morning as investors clung on to hopes that a highly anticipated meeting between U.S. President Donald Trump and Chinese President Xi Jinping this weekend could lead to an easing of trade tensions.
Oil prices were steady on Friday, with focus shifting to the G20 summit where a scheduled meeting between U.S. President Donald Trump and Chinese President Xi Jinping has stirred hopes that trade tensions could ease.
German Chancellor Angela Merkel said her summit meeting with U.S. President Donald Trump on Friday would cover a wide range of topics including trade, investments, West Africa, counter-terrorism and Iran.
U.S. President Donald Trump made clear on Friday that trade was a top priority at a summit of leaders of Group of 20 nations, as Chinese leader Xi Jinping warned against rising protectionism and India and Russia defended multilateral trade rules.
The Gulf region is in a very sensitive situation and is "standing at a crossroads of war and peace", Chinese President Xi Jinping said on Friday, calling for calm and restraint and talks to resolve the issue.
Attempts to lower the role of the World Trade Organisation (WTO) or to destroy it are counter-productive, Russian President Vladimir Putin said on Friday.
Japanese Prime Minister Shinzo Abe on Friday urged leaders from the Group of 20 major economies to deliver a strong message to support "free, fair and indiscriminate" trade as he expressed "deep concerns" over the current landscape of global trade.
Asian shares stumbled on Friday amid rising doubts that a highly anticipated meeting between U.S. President Donald Trump and Chinese President Xi Jinping this weekend could lead to an easing of trade tensions.
Oil prices eased on Friday in a cautious market, as traders eyed a scheduled meeting between U.S. President Donald Trump and Chinese President Xi Jinping at the G20 summit and next week's OPEC meeting.
The development of the global economy is largely driven by one-sided decisions and disputes felt by the entire system, Indian Prime Minister Narendra Modi said on Friday.
All 18 of the big institutions tested by the Fed won approval to boost payouts with the exception of the U.S. division of Credit Suisse, which had weaknesses in its capital planning process.
Credit Suisse was the only Wall Street firm that didn't sail through the Federal Reserve's annual stress test.
For decades the United States led the push for lower tariffs worldwide, but President Donald Trump is testing the solidarity of his G20 peers with a protectionist line on trade, putting central bankers in a tough spot with depleted resources to battle a downturn that may be coming sooner than expected.
Volkswagen and FiatChrysler could face penalties of up to 1.83 billion euros ($2.08 billion) and 746 million euros respectively, if they fail to meet the European Union's emissions targets set for 2021, according to AlixPartners.
Memory-chip maker Micron Technology Inc said it had resumed some shipments to China's Huawei Technologies Co Ltd and still expected demand for its chips to recover later this year, sending its shares 10% late on Tuesday.