Asian markets trade higher ahead of US-China talks

Asian stock markets gained on Thursday ahead of a crucial meeting between President Donald Trump and Chinese leader Xi Jinping, which many are hoping would help to ease trade tensions. The chairman of the US Federal Reserve suggested it may be nearing an end to its three-year rate tightening cycle, boosting interest in riskier assets.

 

The dollar struggled in today’s session and US Treasury yields dipped after Jerome Powell said that US policy rates were "just below" neutral, less than two months after saying rates were probably "a long way" from that point.

 

Japan’s Topix index climbed 0.80%, South Korea’s Kospi index rose 0.59%. Hong Kong’s Hang Seng slightly lower. The Shanghai Composite gained 0.13% and Australia’s S&P/ASX 200 Index advanced 0.6%.

 

In commodities, US crude futures were up 0.44% and West Texas Intermediate crude gained 0.70%.

 

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