Key News Overnight:
There are positive signs on China-U.S trade: Liu He has invited Robert Lighthizer to Beijing for further talks later this month and Washington will likely postpone new tariffs scheduled for December even if there’s no deal by then, the SCMP reported. On the flip side, President Trump may as soon as today sign into law a bill supporting Hong Kong’s protesters, a decision Xinhua attacked again.
Hong Kong voters will go to the polls Sunday to pick District Councils, barring a last-minute postponement by officials due to the ongoing protests. While the local bodies have little power, the election is a chance for residents to respond to government efforts to contain the unrest.
U.S. equities slid amid conflicting signals about the outlook for a Washington-Beijing trade deal. Treasuries dipped amid a global bond slump.
Oil hit a nine-week high as China signalled renewed desire to settle the trade war that’s disrupted global energy demand. Nickel steadied after entering a bear market, with Citi analysts saying prices may snap back next year. Copper fell.
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