Home Markets Wall Street stocks rise on hopes for thaw in US-China relations

Wall Street stocks rise on hopes for thaw in US-China relations

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Equities updates

US equities drifted higher as hopes of a thaw in US-China relations boosted investor sentiment despite uncertainty over central banks withdrawing their crisis-era support for financial markets.

Wall Street’s S&P 500 share index edged up 0.2 per cent higher, after falling for the past three sessions. The technology-focused Nasdaq Composite rose 0.3 per cent while Europe’s Stoxx 600 traded flat, following a broad rally in Asia.

US president Joe Biden held a “broad strategic discussion” with his Chinese counterpart Xi Jinping on Thursday, the White House said. Biden has yet to meet Xi and has taken a hard stance towards Beijing for cracking down on Hong Kong’s pro-democracy movement and undertaking military manoeuvres near Taiwan.

“Any news that makes us think that the relationship between the [world’s] two largest economies, which are…

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