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By Andrew Galbraith
SHANGHAI (Reuters) – Equity markets fell slightly in Asian trade on Friday as investors wait for a watchful meeting between Chinese and US presidents in Argentina this weekend, looking for signs of a stock market crash. relaxation of the trade war.
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The largest MSCI index of Asia Pacific shares out of Japan fell 0.1%. In Japan, the Nikkei rose 0.2%.
Market movements, largely muted, followed a mixed day on Wall Street, where equities tumbled between losses and gains and ended up falling amid conflicting signals about the prospects for trade talks.
The Dow Jones Industrial Average fell 0.11% to $ 25,338.84, the S & P 500 from 0.22% to 2737.8% and the Nasdaq Composite lost 0.25% to 7,273.08% at the closing on Thursday.
Futures in the US stock market signaled greater weakness on Friday as S & P e-mini futures dropped 0.14% to 2,740.5.
Investors are waiting for a meeting between Chinese President Xi Jinping and US President Donald Trump, during which leaders should discuss the deadly trade war between countries.
The remarks of a US official added to the apprehension of protesters in anticipation of the weekend meeting. According to Peter Navarro, White House's trade advisor, who advocated a tougher trade policy with China, would be present.
Washington's mixed signals on the prospects of a China trade rapprochement have caused many investors to remain on the sidelines.
"Rather than hit the headlines, the market has taken a casual approach and prices are soaring until we see the result," National Australia Bank badysts said in a morning note.
Defying the moderate mood, Australian stocks were 1.1% lower, driven lower by maker Coca-Cola Amatil Ltd., which had lost 12.1% on a weak outlook for 2019.
"They presented it as another year of transformation, which, according to fund managers, means that earnings growth will not be as good," said William O. Loughlin, investment badyst at Rivkin Securities in Sydney.
Global investors also remain reluctant to radically change their positions as they seek clarification on the Federal Reserve's policy direction.
The minutes of the Fed's latest monetary policy meeting showed that almost all officials agreed on a further increase in interest rates "should be justified soon enough", but opened a debate on time to suspend increases and how to relay these plans to the public.
The minutes follow comments by federal President Jerome Powell earlier this week, which some have interpreted as indicating a change of dovish.
The yield on two-year US Treasuries, considered sensitive to expectations of a Fed rate hike, was 2.8066% on Friday, compared to 2.813% in the United States.
10-year Treasuries returned 3.0261% versus 3.035% in the United States on Thursday.
The dollar fell 0.08% against the yen to 113.38, while the euro was at 1.1391 dollar.
In commodities markets, US crude prices declined after rising, pointing out that Russia was increasingly convinced of the need to reduce oil production in concert with the Organization of Petroleum Exporting Countries ( OPEC). OPEC and its allies meet in Vienna on 6 and 7 December.
US crude plunged 0.1% to 51.41 dollars a barrel.
Spot gold rose 0.06% to $ 1,224.38 an ounce. [GOL/]
(Edited by Sam Holmes)
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