Asian shares rise amid optimism around US-Chinese talks on trade and AI; oil prices fall – business live
Talks between officials in New York come ahead of summit between Donald Trump and Xi Jinping later in the week Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Stock markets in Asia have risen led by technology shares, lifted by optimism around talks between the US and China on trade and artificial intelligence, while oil prices declined.…
Asian stock markets have rallied, with technology shares leading the charge, as optimism grows over potential US-China talks on trade and artificial intelligence. Meanwhile, oil prices are under pressure, declining. The optimism stems from recent discussions in New York between US officials and Chinese officials, including Vice Premier He Lifeng and US Vice President Scott Bessent, who have been laying the groundwork for the upcoming summit between President Donald Trump and Chinese President Xi Jinping.
Despite the talk of a "grand bargain," market participants are more focused on whether both sides can manage ongoing tensions, particularly regarding trade and military matters. Key economic indicators will be released later today, including the UK's S&P Global Consumer Sentiment Index, the US Chicago Fed National Activity Index for August, and IMF Managing Director Kristalina Georgieva's address at the Legal Department's 80th anniversary conference in Washington.
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