On Wednesday morning (11 June, 9:15 AM, GMT+7, Bangkok time), major indices in Asia Pacific exhibited an upward trend as investors monitored ongoing trade negotiations between the United States and China, with progress in the talks fueling optimism.
U.S. Commerce Secretary Howard Lutnick indicated that the two sides have laid out a framework to put recent agreements between the presidents into action. This sentiment was echoed by Li Chenggang, China’s international trade representative and a vice minister at China’s Commerce Ministry.
The meetings, which continued into the second day, saw the U.S. Treasury Secretary Scott Bessent leave the talks, while Commerce Secretary Lutnick and U.S. Trade Representative Jamieson Greer remained in London to push negotiations forward. With discussions showing signs of progress, expectations rose that talks could extend further if necessary.
Japan’s NIKKEI rose by 0.49% to 38,400.25. South Korea’s KOSPI grew by 0.6% to 2,889.22, and Australia’s ASX 200 increased by 0.37% to 8,618.7.
As for stocks in China, Shanghai’s SSEC added 0.71% to 3,408.91. Hong Kong’s HSI expanded by 0.77% to 24,350.08, and Shenzhen’s SZI surged by 1.2% to 10,284.45.
Meanwhile, the US stock markets edged up on Tuesday as the Dow Jones Industrial Average (DJIA) advanced by 0.25% to 42,866.87. NASDAQ soared by 0.63% to 19,714.99, and S&P 500 gained 0.55% to 6,038.81. VIX dropped by 1.22% to 16.95.
As for commodities, oil prices settled lower on Tuesday, with traders looking for cues from the ongoing trade negotiations between Washington and Beijing.
Market analysts noted that a breakthrough in the talks could spark a rally in oil, as an improved economic outlook would likely drive up global demand for energy. Brent futures declined 17 cents or 0.3% to $66.87 a barrel, and the West Texas Intermediate (WTI) fell 31 cents or 0.5% to $64.98 per barrel.
This morning, Brent futures slid 16 cents or 0.24% to $66.71 a barrel, and the WTI futures dipped 13 cents or 0.2% to $64.85 per barrel.
Meanwhile, gold futures climbed by 0.16% to $3,348.7 per Troy ounce.
