Asian equities and the U.S. dollar rose following news of an upcoming meeting between senior U.S. and Chinese trade officials.
In Tokyo, the Nikkei 225 inched up 0.1% to 36,870.46, while Hong Kong’s Hang Seng jumped 0.5% to 22,767.94 as investors remained cautious ahead of the Federal Reserve’s rate decision later today.
Mainland China’s blue-chip CSI 300 index gained 0.2%, closing at 3,816.80. Earlier strength in regional currencies faded, with South Korea’s won falling sharply and China’s recent rate cut putting pressure on the yuan.
In New York, U.S. stock markets pulled back. The Dow Jones Industrial Average slid 1.0% to 40,829.00, the S&P 500 dropped 0.8% to 5,606.91, and the Nasdaq Composite lost 0.9% to 17,689.66.
Demand for U.S. Treasuries remained solid. A strong 10-year note auction lifted prices, nudging the yield down to 4.31% from 4.34% late Monday.
Elsewhere, the UK stock market’s historic rally continues, with the FTSE 100 rising for a 16th consecutive session—its longest winning streak on record. London’s blue-chip index closed up 1 point, or 0.07%, at 8,597 today, adding to the momentum that began late last month.
The modest gain cements the FTSE 100’s recovery from the sharp sell-off in early April, when it tumbled to 7,544 amid panic sparked by Donald Trump’s “Liberation Day” tariff announcement. Gold miners led the charge, with Endeavour Mining jumping 5.2% and Fresnillo up 4.7%.
Supermarket chain Sainsbury’s also performed strongly, rising 3.4%. The rebound gathered pace after President Trump delayed most of the proposed tariffs by 90 days, easing investor concerns and fuelling the index’s climb.
