Asian stock markets were trading mixed on Monday as investors watched for developments on a fresh round of trade talks with the United States this week in Beijing. China and Taiwan markets reopened after a weeklong Lunar New Year break, edged higher on hopes that American and Chinese officials will make progress on a wide-ranging dispute that has weighed on the global economy.
Shares in Sydney ticked lower along with those in South Korea. Japan is shut for a holiday, so Treasuries won’t trade until the London open after 10-year yields edged down to 2.63% last week.
Top US economic officials travel to the Chinese capital this week for the third round of talks on Thursday and Friday, where preparatory talks among deputies were due to start Monday, as per media reports.
US President Donald Trump said last week he does not expect to meet his Chinese counterpart Xi Jinping before the deadline, while White House economist Larry Kudlow said Washington and Beijing were a “sizeable distance” apart in talks.
Oil prices slipped on concerns about slowing global demand amid a pick-up in US drilling activity.US crude was 73 cents weaker at $51.99 per barrel while Brent fell 69 cents to $61.41.