Asia stock markets rose on Thursday as investors reacted to President Donald Trump’s announcement on Truth Social that a news conference would be held Thursday to unveil a deal with a “big” country, reportedly the United Kingdom. Meanwhile, he stated that tariffs on China would remain in place ahead of US-China talks scheduled in Switzerland this weekend. Meanwhile, Trump said he would not lower tariffs on China as a condition to begin trade negotiations ahead of US-China talks in Switzerland this weekend. Caution also grew ahead of key Chinese economic data, including April trade figures and CPI/PPI reports. Gold rose to around $3,390 per ounce on Thursday, trimming losses from the previous session. Japan ( NKY:IND ) rose 0.48% to above 36,900 on Thursday, reversing losses from the previous session, with technology stocks leading the gains. The Japanese yen strengthened to around 143.6 per dollar on Thursday, recouping some losses from the previous session. On the domestic front, minutes from the latest Bank of Japan meeting indicated that the central bank would continue raising interest rates if its economic and inflation projections materialize. China ( SHCOMP ) rose 0.23% to around 3,350 while the Shenzhen Component climbed 0.6% to 10,160 on Thursday, extending recent gains, buoyed by fresh stimulus measures and optimism surrounding upcoming US-China trade talks, the offshore yuan fell to around 7.23 per dollar on Thursday, marking its third consecutive session of losses, as uncertainty persisted over the trajectory of US-China trade negotiations. The People’s Bank of China on Thursday injected CNY 158.6 billion into the banking system through seven-day reverse repos at a reduced rate of 1.4%, down from 1.5% the previous day. Hong Kong ( HSI ) rose 0.56% to 22,881 in early Thursday trading, extending gains for the sixth straight session. The Hong Kong Monetary Authority kept its base rate unchanged at 4.75% on May 8, following the U.S. Federal Reserve's decision to maintain its key benchmark at the 4.25%–4.50% range for the third consecutive meeting. India ( SENSEX ) rose 0.07% trading around 80,709 in early deals on Thursday, after marginal gains in the previous session. Gains in technology, consumer durables, and financial services were offset by declines in the healthcare and communication sectors. Investor sentiment remained cautious amid escalating tensions between India and Pakistan. Australia ( AS51 ) rose 0.18% toward 8,200 on Thursday, extending gains from the previous session. The Australian dollar climbed above $0.645 on Thursday, recovering roughly half of the previous session’s losses as optimism surrounding global trade developments lifted sentiment. In the U.S., on Wednesday, all three major indexes ended higher as investors weighed the Federal Reserve’s decision to hold interest rates steady and monitored developments in US-China trade tensions. U.S. stock futures jumped on Thursday as Trump hints at major trade deal: Dow +0.57% ; S&P 500 +0.76% ; Nasdaq +1.07% . Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ). More on Asia: Trump set to unveil trade deal with UK on Thursday - report China service growth hits 7-month low as trade disruptions weighs on new business orders Australia private sector expands at 51 in April, services sector expands for 15th straight month Australia inflation gauge eases slightly in April by 0.6% Australia Q1 producer price inflation beats estimates; retail sales rises 0.3% in March
