In Hong Kong, the benchmark Hang Seng Index ended up 91.82 points, or 0.4 percent, at 22,867.74.
The Hang Seng China Enterprises Index edged up 0.1 percent to end at 8,308.83 while the Hang Seng Tech Index slipped 0.93 percent to end at 5,180.25.
Across the border, Chinese stocks closed lower, with the benchmark Shanghai Composite Index down 0.3 percent to 3,342.
The Shenzhen Component Index closed 0.69 percent lower at 10,126.83.
Combined turnover for these two indices stood at about 1.19 trillion yuan, down from 1.29 trillion yuan on the previous trading day.
The mood among investors has improved substantially since the US president unveiled his “Liberation Day” blitz last month, sending markets spinning and fuelling global recession fears.
Several countries have lined up to hold talks with Washington to avert the worst of the duties that range from 10 percent to as high as 145 percent on China – Trump’s main target.
On Thursday, Britain became the first to announce a deal that reduces tariffs on British cars and lifts them on steel and aluminium, while in return Britain will open up markets to US beef and other farm products.
But analysts said traders were more excited about the Republican leader’s comments on the upcoming talks with China in which he hinted at an easing of the stiff measures aimed at the world’s number two economy. That could see Beijing dial back some of its own 125 percent tariffs on US goods.
Trump said he thought the negotiations would be “substantive” and when asked if reducing the levies was a possibility, he said “it could be”.
“We’re going to see. Right now you can’t get any higher. It’s at 145 percent so we know it’s coming down. I think we’re going to have a very good relationship.”
Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer are set to meet Chinese Vice Premier He Lifeng in Switzerland on Saturday and Sunday, the first talks between the superpowers since Trump unveiled his tariffs.
Stephen Innes, of SPI Asset Management, said: “As important as the UK deal was, Trump’s tone on China was the real signal for markets – and it handed the risk-on baton straight to Asia in a friendly, optimistic fashion.
“The president all but greenlit the idea that the days of punitive standoff might give way to negotiated momentum.”
Asian markets extended the week’s rally and tracked gains on Wall Street.
Tokyo jumped more than 1 percent on hopes for Japan’s trade talks.Seoul edged down with Mumbai and Bangkok. But Sydney, Wellington, Manila and Jakarta all advanced with London, Paris and Frankfurt. (AFP/Xinhua)
