European shares opened higher Thursday and U.S. futures also advanced after a mixed day of trading in Asia.
Benchmarks rose in Paris, Frankfurt, Hong Kong and Sydney but fell in Shanghai and Seoul as positive momentum from an upbeat close on Wall Street overnight helped offset negative economic data. Markets are closed Thursday and Friday in Tokyo for a national holiday.
Exports fell 16.6% as demand was hammered by the coronavirus pandemic, the central bank reported in a statement on its website. China said it would retaliate, and there was speculation that the U.S. Consulate in Wuhan, central China, might be ordered to close. But the Hong Kong newspaper South China Morning Post, quoting an unnamed source, said the U.S. Consulate in Chengdu, in western China's Sichuan Province, would be the one targeted for closure.
"Whereas the real worry ought to be about strategic relations descending into `Cold War'-like dynamics; in which room for dialogue is supplanted by heated diatribe," he said in a commentary. Overnight, the S&P 500 picked up 0.6% to 3,276.02, its fourth session of advances. It is within 3.3% of the all-time high it set in February.
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