Chinese and Hong Kong markets fell Thursday as investors assessed the first in-person meeting between U.S. President Donald Trump and Chinese President Xi Jinping since Trump began his second term.
The Nikkei 225 Index nicked ahead 17.96 points, or 0.04%, to 50,325.61.
This comes as the Bank of Japan kept benchmark interest rates steady at 0.5% in its first meeting after Sanae Takaichi’s rise to power as the country’s prime minister earlier this month.
In Hong Kong, the Hang Seng ditched 63.45 points, or 0.2%, to 26,282.69.
Other Asia-Pacific markets were mixed on Thursday, after U.S. Federal Reserve Chair Jerome Powell indicated that a rate cut in December was far from a “foregone conclusion.”
The Fed on Wednesday slashed the benchmark federal funds rate by 25 basis points, as expected, to bring it to 3.75%-4%.
South Korea’s markets will also be in focus after Seoul’s chief policy advisor Kim Yong-beom reportedly released details of the trade deal with Washington.
South Korea will invest $200 billion in the U.S., with an annual cap of $20 billion a year, while the remaining $150 billion of its $350 billion total pledge announced earlier this year will be used for shipbuilding cooperation, according to local media reports.
CHINA
The CSI 300 in Shanghai dropped 37.93 points, or 0.8%, to 4,709.01
Trump said he had reached a one-year agreement with China on rare earths and other critical minerals, and that Washington will cut fentanyl-related tariffs on Beijing to 10% after their meeting in South Korea.
In other markets
In Korea, the Kospi inched up 5.74 points, or 0.1%, to 4,086.89
In Singapore, the Straits Times Index backslid 2.77 points, or 0.1%, to 4,437.44
In Taiwan, the Taiex gained 13.16 points, or 0.1%, to 25,449.67.
In Australia, the ASX 200 fell 40.66 points, or 0.5%, to 8,885.50.
In New Zealand, the NZX 50 pointed north 50.08 points, or 0.4%, to 13,459.29.
