Asian stocks are flashing green, but the S&P 500 futures drop

• Asian stocks rise as trade and geopolitical concerns diminish.
• S&P 500 futures drop, indicate the relief rally could be transient.

Asian stocks are on the rise, but the drop in the S&P 500 futures indicates the positive mood may not last long.

As of writing, Japan's Nikkei index is reporting a 0.9 percent gain. Shanghai Composite, Hang Seng,  and S&P/ASX 200 are up at least 0.4 percent each. Also, the S&P 500 gained 0.83 percent on Thursday.

The risk assets picked up a bid in the US session on reports that President Trump is considering rejoining the Trans-Pacific Partnership free-trade deal. Also, Trump allayed fears of an immediate military action in Syria via a tweet which read - an attack on Syria “could be very soon or not so soon at all".

However, the S&P 500 futures are down 0.30 percent in Asia, suggesting the markets are still not convinced by Trump's U-turn on various issues. The decline in the S&P 500 futures could cap the upside in the Asian equities. Further, there is a risk the Asian equities could surrender gains, especially if the S&P 500 futures extend the decline.