Asia-Pacific markets set to mostly climb on optimism over progress in U.S.-China trade talks

Asia-Pacific markets set to mostly climb on optimism over progress in U.S.-China trade talks


Maremagnum | Corbis Documentary | Getty Images

Asia-Pacific markets were set to mostly climb Wednesday as investors continue to track trade discussions between the U.S. and China, which U.S. Commerce Secretary Howard Lutnick described as being “productive.”

The talks between officials from both superpowers had continued for a second day in London on Tuesday. U.S. Treasury Secretary Scott Bessent said he was departing the ongoing trade talks, but Lutnick and U.S. Trade Representative Jamieson Greer would remain to continue the negotiations.

Discussions could extend into Wednesday if needed, Lutnick said previously.

Japan’s benchmark Nikkei 225 was set to open higher, with the futures contract in Chicago at 38,455 while its counterpart in Osaka last traded at 38,370, against the index’s Tuesday close of 38,211.51.

Futures for Hong Kong’s Hang Seng index stood at 24,111, pointing to a weaker open compared to the HSI’s last close of 24,162.87.

Australia’s S&P/ASX 200 is set to start the day higher, with futures tied to the benchmark at 8,620, compared to its record-high close of 8,587.20 in the previous session.

U.S. stock futures were near the flatline in early Asian hours, as investors waited for more insight on trade discussions, as well as the release of May’s U.S. consumer inflation report.

Overnight stateside, all three key benchmarks rose on hopes for a positive resolution on the trade talks.

The Dow Jones Industrial Average added 105.11 points, or 0.25%, and closed at 42,866.87. The S&P 500 rose 0.55% to end at 6,038.81, while the Nasdaq Composite gained 0.63% and settled at 19,714.99. It was the third positive session for both indexes.

— CNBC’s Kevin Breuninger, Pia Singh, Alex Harring contributed to this report.



Source

Musk’s xAI scores permit for gas-burning turbines to power Grok supercomputer in Memphis
World

Musk’s xAI scores permit for gas-burning turbines to power Grok supercomputer in Memphis

The Grok logo is being displayed on a smartphone with Xai visible in the background in this photo illustration on April 1, 2024.  Jonathan Raa | Nurphoto | Getty Images Elon Musk’s xAI attained an official permit to power its supercomputer facility in Memphis, Tennessee, using natural gas-burning turbines, according to public records shared by the […]

Read More
35-year-old American moved to Chengdu and lives on $30,000 a year: ‘[It’s] poverty in America, but in China I’m living large’
World

35-year-old American moved to Chengdu and lives on $30,000 a year: ‘[It’s] poverty in America, but in China I’m living large’

In her late 20s, Aleese Lightyear worked in reality TV production and lived in New York City, which she thought was her dream. “At the height of my career in New York, I was probably making $100,000 a year [and] working eight months out of the year, which on paper sounds great, but New York […]

Read More
Trump megabill gives the oil industry everything it wants and ends key support for solar and wind
World

Trump megabill gives the oil industry everything it wants and ends key support for solar and wind

President Donald Trump’s One Big Beautiful Bill Act ends long-standing federal support for solar and wind power, while creating a friendly environment for oil, gas and coal production. The House of Representatives passed Trump’s megabill Thursday ahead of a White House-imposed deadline, after the Senate narrowly approved the controversial legislation Tuesday. Trump has made his […]

Read More