Stocks in Asia looked set for declines following a drop in U.S. equities and a surge in Treasuries in the wake of heightened uncertainty over this month’s upcoming tariff deadline.

Australian shares retreated and futures fell in Japan and Hong Kong. The S&P 500 Index declined for a third day, though it pared some of its losses in afternoon trading. The Trump administration signaled the U.S. plans to move forward with tariffs on Chinese goods if no deal is struck before the mid-December deadline. The president had earlier indicated he’d be willing to wait another year before striking an agreement with China. He also threatened levies on France after hitting steel from Brazil and Argentina.

Treasuries surged, driving yields down the most since August, as gold, the yen and the Swiss franc paced gains among haven assets. Australian bonds tracked the moves higher in early Wednesday trading.

Elsewhere, oil rose as traders focused on the upcoming OPEC+ meeting that could lead to deeper supply cuts by some of the biggest crude producers.

Parkway Life Reit (PLife Reit) is acquiring three nursing rehabilitation facilities in Japan for a total sum of JPY3,700 million (approximately S$46.3 million) from KK Habitation, Fuyo Shoji Kabushiki Kaisha and Medical Corporation Shojinkai.

Singapore Airlines (SIA) is being investigated by the Australian Transport Safety Bureau (ATSB) after an engine pod on a Boeing 747 freighter aircraft hit the ground while the pilot was trying to abort a landing. There were no passengers on the cargo plane.

The manager of BHG Retail Real Estate Investment Trust (BHG Reit) has proposed to acquire Badaling Outlets, an outlet mall located in Beijing, for a purchase price of S$455 million.

A unit of Olam International is selling 89,085 megalitres (about 89 billion litres) of its permanent water rights in Australia to a related entity of the Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investment managers, for A$490 million (S$452.7 million).

Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR