Asian stocks rise as US-China trade talks announced, China cuts interest rates

US stock futures rose after the Trump administration announced top US officials would meet with their Chinese counterparts this weekend to discuss trade.

Futures attached to the Dow Jones Industrial Average (YM=F) climbed 0.5%, S&P 500 futures (ES=F) coasted 0.6% up, and contracts on the Nasdaq 100 (NQ=F) rose 0.7%

The meeting marks the first major talks between the countries since President Trump hiked tariffs on imports from China to 145% last month. Treasury Secretary Scott Bessent and trade representative Jamieson Greer will travel to Geneva, Switzerland, to meet with Chinese representatives.

Markets across Asia rose following the announcement. Gains were seen in Japan’s Nikkei 225 (^N225), Korea’s Kopsi (^KS11), and Australia’s S&P/ASX 200 (^AXJO).

Indexes in China CSI 300 (000300.SS) and Hong Kong (^HSI) climbed 0.5% after news broke that China is engaging in a series of measures aimed to stimulate the economy across the region in a counter to Trump’s steep tariffs. Beijing’s central bank announced a cut to key interest rates alongside a number of policies aimed at increasing the amount of governmental money in major Chinese industries.

Looking forward at how the US will engage in trade negotiations, the route remains unclear. At a meeting with Canadian Prime Minister Mark Carney on Tuesday, Trump suggested he wouldn’t engage in back-and-forth negotiations with countries over tariffs and instead would set terms for deals that trading partners could agree to, or not.

In addition to gripping markets, trade uncertainty loomed large in Tuesday’s corporate earnings. AMD (AMD), Super Micro (SMCI), and Rivian (RIVN) all warned of headwinds to come from Trump’s tariffs in their results. AMD was the only company among the three to see a bump in shares following its report thanks to a bullish sales outlook.