Asian and European markets rise on signs of trade talks; Mexican peso stable after holiday
Global financial markets displayed optimism on Friday, May 2, with strong gains in Asian and European stock markets driven by the possibility of a resumption of trade talks between China and the U.S., while the Mexican peso remained stable against the dollar following the Labor Day holiday.
- Hong Kong (Hang Seng): Led the regional gains with a +1.7% rise, closing at 22,494.50 points . Chinese technology stocks such as Alibaba (+4.2%) and Xiaomi (+5.4%) drove the rally.
- Tokyo (Nikkei 225): Up +1.2% , closing at around 36,707 points , holding steady after volatile weeks.
- Other Asian markets:
- Australia (S&P/ASX 200): +1.5%
- South Korea (KOSPI): +0.4%
- Singapore (Straits Times): +0.3%
The optimism was fueled by statements from China's Ministry of Commerce, which left the door open to new trade negotiations with the U.S., provided unilateral tariffs are eliminated.
- London (FTSE 100): Closed up +1.2% at 8,596.35 points , boosted by Shell (+2.9%) after announcing a share buyback and dividend increase.
- Frankfurt (DAX 40): Up +2.6% , leading the continent.
- Paris (CAC 40): Up +2.3% at the close.
The European rebound was bolstered by positive signals from the US, including a solid jobs report. Eurostat data also showed economic stability:
- Eurozone year-on-year inflation: 2.2% (April)
- Unemployment rate: 6.2% (March)
| Index | Region/Country | Movement (approx.) | Level (approx.) | Key Factors |
|---|---|---|---|---|
| Hang Seng | Hong Kong | +1.7% (Closing) | 22,494.50 | China-US optimism, Chinese tech |
| Nikkei 225 | Japan | +1.2% (Closing) | ~36,707 | Commercial expectation |
| FTSE 100 | United Kingdom | +1.2% (Closing) | 8,596.35 | Shell, US employment data |
| DAX 40 | Germany | +2.6% (Closing) | — | Positive data and less trade tension |
| CAC 40 | France | +2.3% (Closing) | — | — |
| MXN Peso | Mexico | Stable / +light | ~19.58 / USD | Post-holiday, USD strength, US employment |
- Mexican Peso: It was quoted at ~19.58 pesos per dollar in interbank transactions.
- Retail banks:
- BBVA: Buy $18.70 / Sell $19.86
- Citibanamex: Buy $19.02 / Sell $20.11
- Retail banks:
The appreciation is attributed to strong U.S. employment data and a stronger dollar after the holiday.
- Other Asian currencies:
- Taiwan dollar: 14-year high
- South Korean won and Indian rupee: Also with notable advances
- Oil:
- Brent: +1.05% → $62.62 USD
- WTI: +1.09% → $59.61 USDAlthough the rally was slight, the market is still headed for weekly losses on demand concerns.
The Mexican peso is recovering after positive first-quarter GDP data, driven by the primary sector. However, risk factors persist:
- Uncertainty over US tariff policies
- Global economic volatility
- Cautious forecasts from exporting companies
Despite this, foreign direct investment remains dynamic, with announcements such as Unilever's $1.5 billion investment in Mexico.
Follow us on our X La Verdad Noticias profile and stay up to date with the most important news of the day.
La Verdad Yucatán
