Global shares mixed ahead of US-China trade talks

TOKYO (AP) — Global shares were mixed Friday as investors kept an eye on the China-U.S. trade situation and watched for signs of what’s in store from central banks.

France’s CAC 40 added 0.2% to 5,589.70 and Germany’s DAX climbed 0.2% to 12,390.56. Britain’s FTSE 100 added 0.1% to 7,499.40. Wall Street looked set for gains with Dow futures up 0.2% to 27,140.00. S&P 500 futures also rose, adding nearly 0.2% to 3,012.30.

U.S. and Chinese envoys are set to meet in Shanghai next week for talks aimed at ending a tariff war.

China’s Ministry of Commerce said Thursday that Chinese companies are willing to import more U.S. farm goods.

That announcement followed President Donald Trump’s criticism that Beijing was backsliding on a promise to narrow its trade surplus with the United States by purchasing more American farm products.

“Investors continue to digest green shoots of upcoming U.S.-China trade talks amid persisting anxiety about the likely turn economic policies in the developed world (will) take. The ECB failed to deliver any easing yesterday and the focus now shifts to the Fed policy,” Nicholas Mapa and Prakash Sakpal, analysts at ING, wrote in their report.

Given doubts over the likelihood for a breakthrough in Shanghai, shares fell across Asia.

Japan’s benchmark Nikkei 225 slid 0.5% to finish at 21,658.15. Australia’s S&P/ASX 200 lost 0.4% to 6,793.40, while South Korea’s Kospi slipped 0.4% to 2,066.26. Hong Kong’s Hang Seng declined 0.7% to 28,397.74. The Shanghai Composite index added 0.2% to 2,944.54.

Shares also fell in Taiwan and Southeast Asia. India’s Sensex edged 0.1% higher to 37,867.30.

U.S. stocks retreated from record highs on Wall Street Thursday as large companies delivered weak earnings and disappointing forecasts.

More than 36% of S&P 500 companies have reported their latest financial results and investors are still expecting a contraction in overall profit. That would mark the second quarter in a row of lower earnings.

ENERGY: Benchmark crude oil gained 19 cents to $56.21 a barrel in electronic trading on the New York Mercantile Exchange. It rose 14 cents to settle at $56.02 a barrel on Thursday. Brent crude oil, the international standard, added 13 cents to $63.39 a barrel.

CURRENCIES: The dollar rose to 108.68 Japanese yen from 108.63 yen on Thursday. The euro fell to $1.1139 from $1.1149.