People are reflected in a glass while looking at electronic boards displaying stock information at the Australian Securities Exchange.
Brendon Thorne | Bloomberg | Getty Images
Asia-Pacific markets edged lower Thursday as investors digested high-level discussions between U.S. President Joe Biden and Chinese President Xi Jinping, while it was left to be seen if optimism about further signs of cooling U.S. inflation would carry through the day.
Biden and Xi met Wednesday outside of San Francisco in their first face-to-face meeting in a year. The talks were on the sidelines of the Asia-Pacific Economic Cooperation conference and were a part of efforts between the U.S. and China to boost high-level communication amid continued tensions.
Another reading on U.S. inflation showed October’s producer price index, which measures wholesale prices, fell by 0.5% to mark its biggest monthly drop since April 2020.
Separately, the South Korea stock markets opened an hour later than usual, at 10 a.m. local time. The delayed open was intended to ease rush-hour traffic as college entrance exams were administrated across the country.
South Korea’s Kospi was 0.28% down, while the Kosdaq higher by 0.3%.
Japan’s Nikkei 225 dipped 0.68% and the Topix lower by 0.36%.
Hong Kong’s Hang Seng index opened 0.2% lower, while Mainland China’s CSI 300 dipped 0.06%.
In Australia, the S&P/ASX 200 fell 0.64%.
Overnight, U.S. stocks climbed, building on the strong rally from Tuesday, on the back of more encouraging inflation data.
The S&P 500 advanced 0.16%, while the Nasdaq Composite inched higher by 0.07%. The Dow Jones Industrial Average added 163.51 points, or 0.47%.
The Dow rose for the fourth straight session.
— CNBC’s Lisa Kailai Han contributed to this report
Source link: https://www.cnbc.com/2023/11/16/live-updates-asia-markets-poised-for-mixed-open-biden-xi-meeting-assessed-.html