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U.S. stock-index futures rose after President Donald Trump announced late Friday that he would drop plans for tariffs on Mexico.

U.S. stock-index futures rose after President Donald Trump announced late Friday that he would drop plans for tariffs on Mexico.

U.S. stock-index futures rose after President Donald Trump announced late Friday that he would drop plans for tariffs on Mexico.

S&P 500 Index contracts gained 0.3%. in Hong Kong, paring an earlier jump of as much as 0.8%, after Trump said that plans for a 5% tariff on Mexican goods had been “indefinitely suspended.” Dow Jones Industrial Average contracts advanced 0.3%, while those on the Nasdaq 100 added 0.4%. Markets also saw a retreat from haven assets weighed on the Japanese yen and the Swiss franc. The drop of tariffs on Mexico is positive for auto companies and other corporations that are highly leveraged to the Mexican border supply chain.

According to futures trade, London’s FTSE 100 and Frankfurt’s Xetra Dax 30 will rise 0.6 per cent apiece, with Wall Street’s S&P 500 set to rise 0.3 per cent. Japan’s benchmark Topix was up 1.3 per cent and Hong Kong’s Hang Seng rose 2 per cent. China’s CSI 300 index of Shanghai and Shenzhen-listed companies fizzed 1.4 per cent higher.

Gold and the Japanese yen, widely viewed as haven assets in uncertain times, weakened by 0.9 per cent and 0.4 per cent, respectively. Brent Oil is at $63 expecting supply rise from OPEC as European consumers see rise in prices for fourth consecutive month.

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