On Sunday in Madrid, U.S. and Chinese officials began talks covering national security, trade, and economic issues, including the looming deadline for TikTok's divestment and U.S. tariffs. Australia's S&P/ASX 200 slipped 0.75 per cent at the open, while South Korea's Kospi gained 0.67 per cent to hit a record high of 3,420.23, its 10th consecutive day of gains. The Kosdaq also edged up 0.4 per cent. In Hong Kong, the Hang Seng Index was set for a slightly weaker open, with futures at 26,380 compared to the prior close of 26,388.16. Markets in Japan and Malaysia remained shut for a holiday. U.S. stock market today U.S. equity futures held largely steady in early Asian trading as investors awaited this week's Federal Reserve meeting, hoping for an interest rate cut when it concludes on Wednesday. On Friday in the U.S., the Nasdaq Composite hit a new record high, marking its second straight week of gains with a 2 per cent rise. The S&P 500 advanced 1.6 per cent for the week, its strongest performance since early August, while the Dow climbed 1 per cent, breaking a three-week losing streak. The rally was fueled by recent economic data indicating a cooling labor market and subdued inflation, which strengthened expectations of a Fed rate cut. Investors are closely watching the Fed's meeting scheduled for Tuesday and Wednesday, with traders anticipating a 25-basis-point rate cut following recent data pointing to persistent softness in hiring and reduced inflation pressures.