Shipping containers and gantry cranes beyond a fishing boat near the Yangshan Deepwater Port in Shanghai, China, on Wednesday, Dec. 6, 2023.<\/p>\n
Bloomberg | Bloomberg | Getty Images<\/p>\n
Hong Kong markets jumped over 2% to lead gains in Asia-Pacific after China’s central bank and financial regulators announced sweeping plans to cut key interest rates in an effort to shore up growth in the face of trade worries.<\/p>\n
Hong Kong’s\u00a0Hang Seng index<\/a>\u00a0rose 2.07%.<\/p>\n Elsewhere, markets in the region were mostly higher after reports that U.S. Treasury Secretary Scott Bessent and trade representative Jamieson Greer are set to meet with their Chinese counterparts this week.<\/p>\n Japan’s benchmark Nikkei 225<\/a> added 0.22% while the Topix rose 0.38%. South Korea’s Kospi added 0.32% while the small-cap Kosdaq lost 0.7%.<\/p>\n Australia’s benchmark S&P\/ASX 200<\/a> climbed 0.17%.<\/p>\n Mainland China’s CSI 300 climbed 1.01%.<\/p>\n Bessent and Greer are set to hold talks with Chinese officials in Switzerland this week to address trade and economic issues.<\/p>\n The discussions mark a potential turning point<\/a> in de-escalating the trade tensions ignited by Trump, who last month raised tariffs on Chinese goods to 145% while easing levies on most other countries. In response, China imposed heavy tariffs on U.S. products<\/a>.<\/p>\n U.S. stock futures advanced Tuesday night<\/a> as investors monitored the latest updates on U.S. trade negotiations and looked toward the\u00a0Federal Reserve<\/a>\u00a0interest rate announcement expected Wednesday afternoon. Dow Jones Industrial Average futures<\/a>\u00a0added 280 points, or 0.7%.\u00a0S&P 500 futures<\/a>\u00a0popped 0.8%, while\u00a0Nasdaq 100 futures<\/a>\u00a0rallied 1%.<\/p>\n Overnight stateside, the three major averages closed lower. The\u00a0Dow Jones Industrial Average<\/a>\u00a0lost 389.83 points, or 0.95%, to close at 40,829.00. The\u00a0S&P 500<\/a>\u00a0shed 0.77% and settled at 5,606.91, and the\u00a0Nasdaq Composite<\/a>\u00a0dipped 0.87% to end at 17,689.66. All three of the major averages posted back-to-back declines.<\/p>\n \u2014 CNBC’s Hakyung Kim and Pia Singh contributed to this report.<\/p>\n","protected":false},"excerpt":{"rendered":"Shipping containers and gantry cranes beyond a fishing boat near the Yangshan Deepwater Port in Shanghai, China, on…\n","protected":false},"author":2,"featured_media":80731,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3091],"tags":[15193,4959,51,3085,1395,32,39103,2122,2441,21349,21348,7686,16,15,49],"class_list":{"0":"post-80730","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-asia-economy","9":"tag-breaking-news-markets","10":"tag-business","11":"tag-business-news","12":"tag-china","13":"tag-donald-trump","14":"tag-jamieson-greer","15":"tag-japan","16":"tag-markets","17":"tag-nikkei-225-index","18":"tag-sp-asx-200","19":"tag-scott-bessent","20":"tag-uk","21":"tag-united-kingdom","22":"tag-united-states"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114464245847183381","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/80730","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=80730"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/80730\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/80731"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=80730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=80730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=80730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}