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Asia markets set to trade little changed amid potential delay in US-China trade deal
Shares in Asia were set to trade little changed on Thursday amid reports of a potential delay in the signing of a U.S.-China trade deal.Futures pointed to a mostly flat open for Japanese shares. The Nikkei futures contract in Chicago was at 23,310 and its counterpart in Osaka was at 23,280. That compared against the…
Shares in Asia were set to trade little changed on Thursday amid reports of a potential delay in the signing of a U.S.-China trade deal.
Futures pointed to a mostly flat open for Japanese shares. The Nikkei futures contract in Chicago was at 23,310 and its counterpart in Osaka was at 23,280. That compared against the Nikkei 225's last close at 23,303.82.
Shares of Softbank Group will be watched on Thursday, after the Japanese conglomerate announced its first quarterly loss in 14 years on Wednesday. Automaker Toyota is also expected to report its quarterly earnings later in the day.
Meanwhile, shares in Australia edged up in early trade, with the S&P/ASX 200 about 0.3% higher. Australia trade data for September is expected to be released at 8:30 a.m. HK/SIN.
Investors will watch for market reaction to overnight developments on U.S.-China trade, following reports that U.S. President Donald Trump and Chinese President Xi Jinping may not meet to sign a trade deal until December.
The meeting between Trump and Xi could be pushed back as the two sides still need to decide on the terms and a venue, a senior administration official told CNBC. Trump is scheduled to be in London for a gathering of NATO leaders on Dec. 3 – 4, and a potential signing could happen nearby before or after that visit, people close to the talks told CNBC. Reuters first reported the meeting postponement.
Overnight stateside, stocks ended the session on Wall Street little changed. The Dow Jones Industrial Average was flat lost just 7 points to 27,492.56 while the S&P 500 was also barely changed at 3,076.78. The Nasdaq Composite declined nearly 0.3% to approximately 8,410.63.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 97.949 after rising from levels around 97.8 seen earlier.
The Japanese yen traded at 108.93 against the dollar after strengthening from levels above 109 yesterday. The Australian dollar was at $0.6880 after slipping from levels above $0.690 in the previous session.
What's on tap:
- Australia: Trade data for September at 8:30 a.m. HK/SIN
- Japan earnings: Toyota, Rakuten
— CNBC's Yun Li contributed to this report.
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