Stocks Climb as Oil Slides and US-China Talks Lift Sentiment - Asia Market Wrap

Global stocks advanced as positive signals from US-China talks supported risk appetite ahead of a meeting between Presidents Donald Trump and Xi Jinping later this week. US Treasury Secretary Scott Bessent described the preliminary discussions as “very successful,” with trade and AI among the issues discussed. Asian equities gained 0.8%, putting MSCI’s global stock index on course for a third straight advance. US futures also moved higher, with S&P 500 contracts up 0.4% and Nasdaq 100 futures gaining 0.6%, while European stocks were set for a firmer open. Oil extended its decline, with Brent falling 2.2% to around $101.65 a barrel and heading for its longest losing streak since June. Lower energy prices helped ease inflation concerns and supported bond futures after recent pressure from expectations of further Fed rate hikes. The Yen steadied around 157 per Dollar as Japan began a three-day holiday, with thin liquidity raising concerns about sharper currency moves. Gold edged lower to around $4,360 an ounce, while Australian and New Zealand government bonds followed Friday’s decline in Treasuries. Expectations for additional Fed tightening continue to pressure longer-dated debt, wi