Stocks in Asia edged higher overnight as traders took stock of trade negotiations between the US and Japan. The Nikkei (^N225) in Japan rose 1.4% as Tokyo and Washington kicked off talks.
US president Donald Trump, who unexpectedly joined the negotiations, declared “big progress” in the discussions with lead Japanese negotiator Ryosei Akazawa.
Elsewhere, the Hang Seng (^HSI) rose 1.4% in Hong Kong and the Shanghai Composite (000001.SS) was 0.1% up by the end of the session.
Investors were also digesting comments from Federal Reserve chair Jerome Powell, who warned of the risk of slowing growth and rising prices due to tariffs.
The spotlight stayed on technology shares after a bruising session on Wednesday in the wake of warnings from Nvidia (NVDA) and ASML (ASML.AS, ASML), and ahead of earnings from Taiwan’s TSMC (2330.TW, TSM).
South Korea’s Kospi (^KS11) rose 0.9% while the Taiex (^TPLI) in Taiwan fell 0.6%.
Across the pond on Wall Street, stocks fell last night after the chairman of the US Federal Reserve signalled that it would take longer for inflation to reach its target as a result of Trump’s trade war.
The S&P 500 (^GSPC) finished the day down 2.2% at 5,275.70. The Dow Jones Industrial Average (^DJI) slipped 1.7% to 39,669.39, while the tech-heavy Nasdaq (^IXIC) dropped 3.1.
In the bond market, the yield on 10-year US Treasury nosed edged down to 4.282% from 4.332% late on Tuesday.
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