Vibrant neon signs and bright street lights glowing above the busy night traffic of taxis, double decker buses and pedestrians along Nathan Road in the crowded Tsim Sha Tsui district of Kowloon, Hong Kong, China.
Fotovoyager | E+ | Getty Images
Asia-Pacific markets were set to open mostly higher after President Donald Trump said Monday that U.S.-China trade negotiations in Spain were progressing well.
The trade talks were overshadowed by a “framework” deal regarding the divestment of Chinese-owned TikTok, announced by Treasury Secretary Scott Bessent Monday. Speaking from Madrid, Bessent noted that the commercial terms have already been settled.
Both U.S. President Donald Trump and Chinese President Xi Jinping will speak on Friday to discuss the terms.
Japan’s benchmark Nikkei 225 was set to open lower after coming back from a holiday, with the futures in Osaka last traded at 44,715, against the index’s last close of 44,768.12.
Hong Kong’s Hang Seng Index was set to open higher, with the futures contract at 26,523 against the index’s last close of 26,446.56.
Australia’s ASX/S&P 200 was poised for a higher open, with the futures contract last traded at 8,890, against the index’s Friday close at 8,853.
Overnight in the U.S., major averages closed higher as investors braced for a key Federal Reserve meeting this week.
The S&P 500 climbed 0.5% to 6,615.28, marking its first close above 6,600. The Nasdaq Composite also advanced to a new all-time high, rising 0.9% to 22,348.75. The Dow Jones Industrial Average eked out a small gain, gaining 49.23 points, or 0.1%, to end the day at 45,883.45.
— CNBC’s Sarah Min and Pia Singh contributed to this report.
