Argentina is in talks with China on contributing to a package of support from foreign lenders, including the IMF, as it works to restore confidence in its deficit-ridden economy, a senior minister has told the Financial Times.

Marcos Peña, cabinet chief, said Buenos Aires hoped to build on a currency swap arrangement between Argentina’s central bank and the People’s Bank of China that was agreed in July 2015 and extended last year.

“We have an active swap with China that the previous government left us and we will try to make it bigger,” Mr Peña said in an interview in London. He declined to say how much aid was being sought, although he said he hoped to deliver a “positive surprise” that would be “relevant for the market”. Unconfirmed media reports have mentioned a figure of $30bn.

On Wall Street overnight, the S&P 500 index closed up just 0.1 per cent, but a rally in the technology sector helped the Nasdaq Composite climb 0.4 per cent to close at a fresh record high.

In Asia-Pacific equities, futures tip Sydney’s S&P/ASX 200 to rise 0.2 per cent when trading begins, while Tokyo’s Topix is set to open flat and Hong Kong’s Hang Seng is expected to shed 0.2 per cent.

Corporate earnings reports out today include Link REIT and Kura Corp.

The economic calendar for Wednesday cannot be used as a non-dairy substitute (all times Hong Kong):

  • 08.00: Japan overtime pay
  • 09.30: Australia Q1 gross domestic product
  • 17.00: India interest rates decision

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