Asian Stocks Mixed Ahead of Trump-Xi Meeting

Asian stock markets traded mixed on Wednesday as investors remained cautious ahead of a closely watched meeting between U.S. President Donald Trump and Chinese President Xi Jinping. U.S. stock futures were also largely unchanged after a mixed Wall Street session.

South Korea’s KOSPI gained about 0.2%, supported by a nearly 2% rise in Samsung Electronics shares. Japanese markets were closed for a holiday, while Nikkei 225 futures fell 0.5%.

Chinese equities moved lower as investors assessed the outlook for U.S.-China relations. The Shanghai Composite declined 0.4%, while the CSI 300 slipped 0.5%. Hong Kong’s Hang Seng Index dropped 0.9%, and the Hang Seng TECH Index lost more than 1%.

Xi is visiting the United States from September 23 to 25 at Trump’s invitation, with the two leaders scheduled to meet Thursday. Trade, artificial intelligence, supply chains and geopolitical tensions are expected to feature prominently in their discussions.

Officials from both countries have offered positive assessments of preparatory talks, including negotiations involving trade and AI safety. However, markets remain cautious over whether the Trump-Xi meeting will produce substantial agreements. China’s ambassador to the U.S. added to uncertainty Wednesday by saying Beijing has “red lines” involving Taiwan, human rights and other sensitive issues.

Oil prices also remained an important influence on Asian markets. Brent crude hovered around $99 per barrel as increased Gulf supply and hopes for diplomatic progress between Washington and Tehran weighed on prices.

Trump said U.S. officials held a productive three-hour meeting with Iranian representatives in New York on Tuesday, fueling expectations that negotiations could help ease the conflict and disruptions around the Strait of Hormuz. However, his warning of further military action if diplomacy fails underscored continuing geopolitical risks.

Lower crude prices have helped ease inflation concerns across markets. Elsewhere, Australia’s S&P/ASX 200 was little changed, Singapore’s Straits Times Index slipped 0.1%, and Nifty 50 futures pointed to a muted opening for Indian stocks.