HONG KONG (AP) - Shares in Asia showed mixed results on Friday as investors awaited the outcome of anticipated trade talks between the United States and China scheduled for the weekend. The U.S. futures and oil prices logged modest gains, indicating some optimism among investors regarding potential developments from the discussions.

China's recent export data revealed that exports increased at an annual pace of 8.1% in April, which was faster than analysts had expected, although this reflected a decline from the 12.4% growth observed in the previous month. Notably, exports to the United States fell by more than 20% as a consequence of the substantial tariff increases implemented by President Donald Trump.

In the market indices, Hong Kong's Hang Seng Index faced a slight decrease of 0.1%, settling at 22,777.82. The Shanghai Composite Index also saw a decline, losing 0.3% to close at 3,343.38. Meanwhile, Tokyo's Nikkei 225 experienced a notable gain of 1.5%, reaching 37,493.65, while South Korea's Kospi remained almost unchanged at 2,578.64. Australia’s S&P/ASX 200 added 0.4% to 8,228.10, and Taiwan's Taiex surged 1.7%.

The U.S. and Chinese trade officials are set to meet on Saturday in Geneva, Switzerland, which has raised expectations among investors. In response to questions about the possibility of reducing tariffs on Chinese imports if the talks yield positive results, Trump stated, "It could be. We’re going to see. Right now, you can’t get any higher. It’s at 145%," indicating a potential future reduction.

On the preceding Thursday, U.S. stock markets responded positively, bolstered by the announcement of a trade deal between the United States and the United Kingdom that aimed to lower some tariffs between the two nations. This legislation is seen as part of efforts to stave off a potential recession. The S&P 500 soared by 0.6% to 5,663.94, marking its eleventh gain in just 13 days. The Dow Jones Industrial Average also grew by 0.6% to 41,368.45, while the Nasdaq Composite experienced a rise of 1.1%, closing at 17,928.14.

Trump praised the newly established trade agreement with the United Kingdom as a "maxed-out trade deal," highlighting that it would maintain a 10% tariff on U.K. products while reducing taxes on U.K. automobiles. In return, the U.K. would provide increased access to its market for U.S. beef, ethanol, and other goods.

The S&P 500 gained additional momentum from strong profit reports released by several U.S. companies, inching closer to its historical high set back in February. The index is currently within 7.8% of that peak, following a substantial drop of nearly 20% below that level a month prior.

Several companies have illustrated varying success in their latest quarterly results. Axon Enterprise, known for its Tasers and body cameras, surged by 14.1% after reporting robust growth in its software and services segments and raising its revenue forecast for the year. In contrast, Tapestry, the company behind Coach and Kate Spade, saw a stock increase of 3.7% after reporting better than expected profits, attributing its success to appealing to a younger demographic in North America. Conversely, Molson Coors reported disappointing results that fell short of analyst expectations, resulting in a 4.5% decrease in its stock price.

Krispy Kreme faced a dramatic decline, plummeting 24.7% after withdrawing its forecasts for the full year, citing "macroeconomic softness" as a reason for the decision and putting a pause on expanding its doughnut sales at more McDonald's locations.

Despite mixed economic signals, overall, the U.S. economy is performing adequately, as indicated by the Federal Reserve's assessment earlier this week. However, rising pessimism due to tariffs has led to increased concerns among U.S. households over the risk of recession amid ongoing uncertainties created by trade policies.

In the oil market, U.S. benchmark crude saw a modest gain of 26 cents, reaching $60.17 per barrel, whereas Brent crude, the international benchmark, advanced by 29 cents to $63.13 per barrel. Foreign exchange rates reflected some fluctuations, with the U.S. dollar dropping to 145.66 Japanese yen from the previous 145.91, while the euro rose to $1.1228 from $1.1220.