Main points for the morning: collapse in Asia, rebound in the US, oil and cryptocurrencies recovering from the fall

U.S. stock index futures recovered some of their losses after Donald Trump softened his rhetoric on China, writing that relations with Beijing "will be fine." His statements followed an escalation of the trade conflict on Friday, when a threat to impose a new duty of 100% on imports from China triggered the worst sell-off on US exchanges since April and a massive collapse in the cryptocurrency market. On Monday, Asian markets opened trading with a crash, but cryptocurrencies and oil are recovering. What is happening in the markets - in our review of key events by the morning of October 13.

U.S. stock index futures showed a partial market recovery on Monday night after Donald Trump softened his rhetoric on China, Yahoo Finance writes. In a post on the Truth Social platform, the US president said that relations with China "will be fine", calling Xi Jinping a "respected leader" and adding that both sides do not want a "depression". Exchange-traded contracts on the Dow Jones index added about 0.9 percent, S&P 500 futures jumped 1.3 percent and Nasdaq-100 futures climbed as much as 1.8 percent.

Investors in Asia-Pacific markets sold off shares. The Hang Seng Index in Hong Kong collapsed by 3.4%, the CSI 300 fell by 1.8% and South Korea's Kospi fell by more than 2%.

China previously raised duties on U.S. goods to 125%, imposed new port fees on ships from the U.S. and launched an antitrust investigation against Qualcomm, while restricting exports of rare earth metals. Trump responded by threatening to impose additional duties of 100% on Chinese goods starting November 1 and accused Beijing of "extremely aggressive" trade policies.

After a sharp collapse due to the escalation of the trade war between the world's two leading economies, the largest cryptocurrencies have started to recover: the total market capitalization rose by more than 6%, exceeding $4 trillion, according to CoinGecko, Bloomberg reports. Bitcoin rose to $115,000 after falling below $105,000, and Ethereum returned to the $4100 level.

Analysts surveyed by the agency said the rally was driven by Trump's conciliatory tone, but risks remain high, with the market still vulnerable to announcements of new trade measures and other threats.

Oil prices rose about 1.5% after the Trump administration said it was ready to negotiate with China to reduce trade tensions, Bloomberg writes. Mark Brent rose above $63 per barrel after falling almost 4% on Friday, WTI approached the $60 mark.

The rise in energy prices reflects a temporary recovery from sell-offs triggered by trade war fears, the agency notes, but reminds that market pressure remains due to increased supply from OPEC+ and uncertainty in global logistics, exacerbated by reciprocal duties between the US and China.

China's exports rose 8.3% year-on-year in September, the fastest pace in six months. Imports added 7.4%, the best result in more than a year, the country's customs service said, CNBC reported. The figures exceeded Reuters' forecasts and point to the resilience of Chinese trade despite growing tensions with the U.S., the channel said.

Chinese authorities have urged Washington to abandon trade pressure and return to negotiations, noting that the new barriers disrupt global supply chains.

This article was AI-translated and verified by a human editor