Australian stocks rise, with most Asian markets closed for holiday

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Australian stocks rose in early trading Wednesday, the only major Asia-Pacific index open on a day that was a public holiday in most countries.

Japan’s Nikkei remained closed as part of a 10-day holiday commemorating the installation of a new emperor, Naruhito, who was installed Wednesday, a day after his father officially abdicated.

In Beijing, the U.S. and China resumed trade negotiations, with Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer leading the U.S. delegation. The two sides are reportedly close to a final deal, and Mnuchin said Monday that he would know in the next week or two the deal will be good enough for him to recommend to President Donald Trump.

Australia’s S&P/ASX 200












XJO, +0.72%










  was up 0.6%, with financial stocks leading the way. ANZ Banking












ANZ, +3.05%










  and Westpac












WBC, +2.07%










  were among the top gainers, while mining giant Rio Tinto












RIO, -0.66%










  fell.

Crude oil prices retreated, after rising Tuesday. U.S.-based West Texas Intermediate crude for June delivery












CLM9, -0.94%










  dipped after ending up 6% for the month of April. Global benchmark July Brent crude












LCON9, -0.68%










 declined as well.

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