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Asian stocks decline, US futures are slipping



Asian stocks rebounded on Friday, hoping that US-Chinese talks could progress next month toward ending a costly tariff war over trade and technology.

Benchmarks in the major Asian markets all followed Wall Street higher.

Japanese Nikkei ended the day with a gain of 1.2 percent, adding 1.4 percent for the week. China's Shanghai Composite was up 0.6 percent, and Hong Kong's Hang Seng was 0.6 percent higher.

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Investors were encouraged by a Chinese government's statement Thursday that US penalties are adequate. It suggested that Beijing may be taking a break in a tit-for-tat cycle of toll rises from both sides, which has fueled fears that the fight will tip the global economy into recession.

U.S. stock futures point to small losses when the clock rings on Wall Street.

Shares closed Thursday with broad gains, driving the Dow Jones Industrial Average more than 300 points higher.

The S&P 500 index rose 1

.3 percent, Dow climbed 1.3 percent and Nasdaq gained 1.5 percent.

Ticker Security Last Change % Chg
In: DJI DOW JONES AVERAGES 26362.25 +326.15 + 1.25%
SP500 S&P 500 2924.58 +36.64 + 1.27%
I: COMP NASDAQ COMPOSITE INDEX +1959017] 7973.316] +116.51 + 1.48%

Some analysts say Beijing may hope to get a more favorable deal if President Donald Trump is under pressure during his reelection campaign – or may end up negotiating with his successor if he loses.

Washington and Beijing are the watchdog in talks on US complaints about China's trade surplus and the industry plans that its trading partners say they are based on stealing or pushing companies to hand over technology.

Title lifting on both sides has depressed trade, prompting fears that the battle could tip the global economy into recession.

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The dealers will meet next month in Washington after the last round of talks in July in Shanghai showed no signs of progress.

The Associated Press contributed to this article.


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