SINGAPORE — Share prices in Asia rebounded Friday on a report that President Trump and his Chinese counterpart Xi Jinping may meet at the Group of 20 summit in Argentina in late November.
The Wall Street Journal said the White House had informed officials in Beijing that it would go ahead with a summit meeting in Buenos Aires. It cited unnamed sources from both sides.
There was no immediate word from Chinese officials in Beijing.
The aim was to find a way out of the impasse over trade that has led both countries to impose penalty tariffs on billions of dollars of each other’s exports.
Strong Chinese export data also helped breathe life into share benchmarks that had languished in recent days.
Defying tariffs, China’s trade surplus with the United States grew to a record $34.1 billion in September, customs data showed. This marked a jump of 13 percent over a year earlier.
Its exports to the United States rose to $46.7 billion although growth was slower than in August. Imports of U.S. goods grew too, but at a slower pace than before. On the overall, China’s global exports picked up and its imports steadily increased.
Asia’s rebound followed another rout Thursday on Wall Street, where indexes tumbled for a second straight day on worries that rising interest rates and trade tensions could hurt global growth.
“It seems Asia has had a reassessment, and calmer heads have prevailed as we close out the week,” Chris Weston of Pepperstone Group Limited said in a commentary.
Japan’s Nikkei 225 index gained 0.5 percent Friday to 22,694.66 after sinking early in the day following a nearly 4 percent loss on Thursday. Australia’s S&P ASX 200 rose 0.2 percent to 5,895.70.
Hong Kong’s Hang Seng surged 1.8 percent to 25,726.78. The Shanghai Composite index