Australian shares are expected to open slightly lower as global investors await the outcome of the latest US-China talks, aimed at ending their protracted trade dispute.
Market snapshot at 8:05am (AEDT):ASX SPI futures -0.1pc at 6,209, ASX 200 (Thursday’s close) -0.8pc at 6,233AUD: 71.14 US cents, 54.4 British pence, 63.38 euro cents, 79.42 Japanese yen, $NZ1.05US: Dow Jones +0.6pc at 26,385, S&P 500 +0.2pc at 2,879, Nasdaq flat at 7,892Europe: FTSE 100 -0.2pc at 7,402, DAX +0.3pc at 11,988, CAC -0.1pc at 5,464, Euro Stoxx 50 +0.2pc at 3,444Commodities: Brent crude -0.1pc at $US69.23/barrel, spot gold +0.2pc at $US1,292.36/ounce, iron ore -0.2pc at $US92.90/tonne
US President Donald Trump is set to meet China’s top trade negotiator, Vice-Premier Liu He, at the White House later today.
Mr Trump said that trade talks with China were going well and he would only accept a “great” deal.
“If it’s not a great deal, we’re not doing it. But it’s going very well,” he told reporters.
“Top officials are here. And we’re very well along on the deal. It’s a very complex deal. It’s a very big deal.
“It’ll be a great deal for our farmers. Technology, intellectual property theft — everything is covered. There’s not a thing that’s not covered.”
Over the last year, Washington and Beijing have imposed hundreds of billions of dollars worth of tariffs on each other’s imports.
The US wants sweeping changes to China’s economic and trade policies, while China wants Mr Trump to lift expensive sanctions on Chinese goods.
Mixed result for US investors
On Wall Street, the Dow Jones index ended its day 167 points higher, up 0.6 per cent, to 26,385.
The benchmark S&P 500 lifted 0.2 per cent, while the tech-heavy Nasdaq fell 0.05 per cent (practically flat).
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