Asian stocks steady as investors look U.S.-China trade talks. On Wednesday, shares in Asia were mixed as investors awaited the result of trade talks between the United States and China.
China’s Shanghai composite recovered while the Shenzhen component grew 0.231 percent following declines earlier. Japan’s Nikkei falls about half a percent while the Topix fell 0.17 percent.
London’s FTSE and Paris’s CAC are expected to increase 0.4 percent and 0.1 percent respectively, while Frankfurt’s DAX could see a small loss, according to Spread-betters.
MSCI’s global index of Asia-Pacific shares reached 0.3 percent and KOSPI of South Korea rose 1.1 percent.
Mining stocks rose in Australia, with Rio Tinto increased 3.8 percent, BHP Billiton jumped 1.96 percent, and Fortescue Metals Group advanced 7.16 percent.
Now, investors are eying on the positive outcome from the U.S.-China trade front. Additionally, investors also awaited to the outcome of Federal Reserve policy guidance.
Chinese Vice Premier Liu He will reportedly meet U.S. officials for trade talks in an attempt to move negotiations forward. The meeting is scheduled for Wednesday and Thursday in Washington.
“Investors are hoping for a positive outcome from the talks and Steven Mnuchin lifted some players hopes by declaring that ‘Everything is on the table’ and that the US could lift tariffs on China, however once again the market will be looking for solid progress before a real rally can take place,” Rakuten Securities Australia said in a note.
Oil prices escalated after Asian hours trading with Benchmark U.S. crude rose 0.54 percent to $61.65 per barrel. It gained 0.36 percent to $53.50 per barrel.