New york: US stocks ended higher Thursday after President Donald Trump announced that he would meet with Chinese President Xi Jinping next week.

According to Anadolu Agency, the Dow Jones Industrial Average rose 0.31%, or 144.20 points, to close at 46,734.61. The Nasdaq climbed 0.89%, or 201.40 points, to close at 22,941.80, while the S and P 500 increased 0.58%, or 39.04 points, to 6,738.44. The Volatility Index (VIX), also known as the "fear index," fell 6.99% to 17.30.

Stock markets followed a positive trend after it was confirmed that Trump would meet with Xi in South Korea as part of his tour of Asia. White House spokesperson Karoline Leavitt announced at a press briefing that Trump would attend the Asia-Pacific Economic Cooperation (APEC) summit in South Korea and hold a bilateral meeting with Xi on October 30.

Meanwhile, Trump pardoned Changpeng Zhao, the convicted founder of crypto exchange Binance, the White House confirmed Thursday. It was also reported that a new round of negotiations aimed at resolving escalating trade tensions between the US and China, marked by reciprocal tariff increases, will take place in Malaysia on October 24-27.

News regarding talks between the two countries eased concerns about the recent resurgence of trade tensions.