[MARKET ANALYSIS] Asia-Pac stocks trade mixed as participants await any developments from the Trump-Xi summit, which began in Beijing

APAC Stocks: Mixed

• Asia-Pac stocks trade mixed following the mostly positive lead from Wall St, where markets were choppy and gradually brushed aside the firmer-than-expected PPI data amid strength in tech and communications, while the focus turns to the Trump-Xi summit, which has begun in Beijing, although it has provided very little so far to excite markets.

ASX 200: -0.1%

• Trades lacklustre as weakness in consumer staples, tech, health care and energy counterbalances the resilience in the top-weighted financials sector, while a lack of tier-1 data adds to the humdrum mood.

Nikkei 225: +0.2%

• Climbed at the open to print a fresh record high, before fading some of the gains amid quiet catalysts.

Hang Seng & Shanghai Comp: Hang Seng -0.5% / Shanghai Comp +0.9%

• Chinese markets are mixed as participants digest earnings releases, including from the likes of Alibaba and Tencent, which both beat forecasts on the bottom line but disappointed on sales, while participants now await any concrete outcomes from the Trump-Xi summit, which began in Beijing.

US Equity Futures: Mildly positive

• Took a breather after the prior day's rebound and as markets look to any developments in Beijing.

European Equity Futures +0.8%

• Indicate a positive cash market open with Euro Stoxx 50 futures up 0.8% after the cash market closed with gains of 0.9% on Wednesday.