This image pretty much sums it up:
Chinese President Xi Jinping heads to Florida on Thursday for a high-stakes summit with his US counterpart Donald Trump to address a host of simmering questions about the countries’ bilateral relations. As the FT View notes, there is remarkable potential for mutual disappointment, and perhaps the best gauge of success is whether the two sides can open a dependable channel of communication.
Wall Street had a choppy session on Wednesday that saw the S&P 500 close 0.3 per cent lower as minutes from the US Federal Reserve’s March meeting showed extensive discussion about reducing the central bank’s $4.5tn balance sheet.
In Asia Pacific equities, futures tip Sydney’s S&P/ASX 200 index to dip 0.3 per cent at the open, while in Tokyo the Topix is set to drop 0.2 per cent, and Hong Kong’s Hang Seng is expected to climb 0.2 per cent when trading begins.
Corporate earnings reports out today include Seven & I, Parco, San-A Co, Anhui Hengyuan Coal Industry and Inner Mongolia First Machinery.
The economic calendar for Thursday should not be used by children or expecting mothers (all times Hong Kong):
- 08.30: Taiwan consumer price inflation
- 08.30: Hong Kong Nikkei PMI
- 09.45: China Caixin services PMI
- 13.00: India Nikkei services PMI
- 17.00: Reserve Bank of India interest rates decision
- India’s consumer confidence index is also due out today.