HK stocks set for greatest weekly efficiency in 4 months

Yen at two month high on increasing bets on rate hikes this year

Gold stable near record peak, oil set for 3rd weekly drop

By Ankur Banerjee

SINGAPORE, Feb 7 (Reuters) - Global stocks meandered on Friday ahead of crucial U.S. payrolls information as investors considered prospects that a more comprehensive trade war could be avoided, while the yen struck its greatest in nearly 2 months on increasing odds of more rate walkings in Japan this year.

In a week that began with U.S. President Donald Trump beginning a trade war, investors have actually been reluctant in making significant moves as threatened responsibilities on China were executed.

Beijing’s measured tit-for-tat reaction has actually left space for negotiations, analysts state, which has actually permitted traders to focus on the AI style in China in the wake of home-grown start-up DeepSeek’s breakthrough.

European futures pointed to a subdued open after the pan-European STOXX 600 index closed at a record high on Thursday on the back of robust business profits.

European stocks have staged their finest efficiency in a years against Wall Street in the very first six weeks of 2025, however focus is now on whether those gains can be sustained.

Eurostoxx 50 futures were down 0.41%, while FTSE futures fell 0.39%. DAX futures alleviated 0.21%.

Futures for Nasdaq and S&P 500 were down about 0.2% as shares of Amazon insinuated prolonged trading over night on weakness in the retailer’s cloud computing system and soft forecast.

In Asia, Hong Kong’s Hang Seng Index struck a three-month high, poised for a 4% rise in the week, its greatest weekly performance sustained by DeepSeek-led AI bets.

China’s blue-chip stock index was 0.4% higher after touching a one-month high leaving MSCI’s broadest index of Asia-Pacific shares outside Japan at its greatest considering that mid-December.

“Whilst there is substantial sound and uncertainty, we don ´ t see intensifying trade stress as a game changer in the prospects for the Chinese market,” said James Cook, investment director for emerging markets at Federated Hermes.

“China’s larger problem is not Trump but the domestic economy.”

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