[MARKET ANALYSIS] Asia-Pac stocks trade mixed amid diplomacy optimism and the looming Trump-Xi summit
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Differences US investments stall plans for Chinese business leaders to join Chinese President Xi's visit to the US, according to SCMP
SoftBank (9984 JT) takes orders for USD 10bln bond sale to fund OpenAI investment with guidance for 3.5yr bonds at 8.75-8.875%, 5.5yr bonds at 9.375-9.5%, 7.5 year bonds at 9.75-9.875%
[MARKET ANALYSIS] Asia-Pac stocks trade mixed amid diplomacy optimism and the looming Trump-Xi summit
Hong Kong Finance Secretary Chan affirms no intention to change HKD peg to USD, adds Hong Kong will remain an open and free economy, while fixed income will be a very big part of Hong Kong
[MARKET ANALYSIS] Dollar remains firmer amid ongoing rate hike expectations and despite the decline in oil
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APAC Stocks: Mixed
- Asia-Pac stocks are ultimately mixed following the similar handover from the US, despite the recent decline in oil prices and optimism regarding diplomacy after US President Trump announced that envoys had a 'very productive' meeting with the Iranian delegation on the sidelines of the UN General Assembly. However, he also threatened that they may have to blow up Pickaxe Mountain and will attack if they see activity, as well as commented that he has a big decision to make between allowing Iran to rebuild or to "annihilate" Iran.
ASX 200: Flat
- Trades little changed with risk sentiment clouded by rate hike expectations and following weaker Flash PMI data from Australia, in which headline Manufacturing PMI slipped into contraction territory.
KOSPI: +0.3%
- Kept afloat after tech-related momentum stateside, where the NDX outperformed and notched a fresh record high.
Hang Seng & Shanghai Comp: Hang Seng -0.9% / Shanghai Comp -0.3%
- Chinese markets are subdued following today's PBoC liquidity drain and as reports that Chinese President Xi is unlikely to bring Chinese CEOs to his summit with US President Trump temper expectations for major business deals.
US Equity Futures: Rangebound
- Price action is sideways amid the mixed global risk appetite.
European Equity Futures +0.2%
- Indicate a mildly positive cash market open with Euro Stoxx 50 futures up 0.2% after the cash market closed with gains of 0.1% on Tuesday.
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