Asia-Pacific markets pulled back on Tuesday as investors turned cautious ahead of a high-profile meeting between United States President Donald Trump and Japan’s newly appointed Prime Minister Sanae Takaichi.
The meeting is expected to focus on economic and security cooperation as Washington and Tokyo navigate a shifting global trade landscape.
By 11:40 am AEDT (12:40 am GMT), Australia’s S&P/ASX 200 was down 0.4%, Japan’s Nikkei 225 slipped 0.4%, and South Korea’s Kospi 200 declined 1%.
South Korea’s economy offered a bright spot, expanding at its fastest pace in over a year.
According to advance estimates from the Bank of Korea, third-quarter gross domestic product rose 1.7% year on year, outpacing the 1.5% increase expected.
The country’s economy grew 0.6% in the previous quarter.
In the U.S., Wall Street extended record highs on Monday as optimism around a potential China trade deal and upcoming corporate earnings lifted sentiment.
The Dow Jones Industrial Average gained 0.7%, the S&P 500 climbed 1.2%, and the Nasdaq Composite advanced 1.9%.
In commodities, Brent crude slipped 1.4% to settle at US$64.75 per barrel, while spot gold dropped 3.2% to US$3,981.99 per ounce amid a broader risk-on mood.
Mainland Chinese markets were mixed in the previous session, with the Shanghai Composite up 1.2% to a fresh 10-year high of 3,996.9, while the CSI 300 added 1.2% to 4,716.0.
Hong Kong’s Hang Seng Index gained 1.1% to 26,433.7, and India’s BSE Sensex slipped 0.7% to 84,778.8.
Across Europe, sentiment remained upbeat on Monday. The FTSE 100 rose 0.1% to close at a record 9,653.8, the DAX gained 0.3% to 24,308.8, and France’s CAC 40 added 0.2% to 8,239.2.
