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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.