Global Market News

Asian Stock Markets Mixed as China, US Officials Prepare to Resume Trade Talks


Last updated: 10/09/2019 06:50:30

06:50 AM EDT, 10/09/2019 (MT Newswires) -- Asian stocks were heavily mixed Wednesday, ahead of highly anticipated trade talks between China and the US in Washington on Thursday. The outlook for successful negotiations may have been dimmed on Monday, when the Trump administration imposed sanctions on 28 Chinese entities suspected of human rights violations of Uighurs and others in western China. But on Wednesday, an unidentified China official said Beijing would be willing to accept a partial trade deal, Bloomberg reported.

Hong Kong shares fell, Shanghai gained, and Tokyo slipped, while other regional exchanges were choppy.

In Japan, the Nikkei 225 opened lower on overnight Wall Street cues and meandered sideways before closing lower by 0.61%.

The benchmark Nikkei 225 lost 131.40 to 21,456.38, as losing issues outnumbered gainers 168 to 53.

Leading the upside on a down day was Kansai Electric Power (KAEPY, 9503:Tokyo), up 2.5%, followed by plastics maker Toray Industries (TRYIY, 3402;Tokyo), up 1.9%, and homebuilder Sekisui House, (SKHSF, 1928:Tokyo), up 1.8%.

On the downside, ad and PR agency Dentsu (DNTUF, 4324:Tokyo) fell 3.6%, and silicon wafer maker Sumco (SUMCF, 3436:Tokyo) lost 3.4%.

In other news, a super typhoon may bring high winds and rains to Japan starting Saturday, according to the Japan Meteorological Agency. The Rugby World Cup games are being played through the weekend in Japan.

The broad gauge Hong Kong Hang Seng Index opened lower and finished down 210.59 points, or 0.81%, to 25,682.81, as losing issues outnumbered gainers 36 to 12.

Leading the upside was China Resources Land (1109:HK), up 2.4%, followed by port developer CK Hutchinson (1:HK), up 0.8%, then confectioner Want Want China (151:HK), up 0.7%.

On the downside were smartphone components maker Sunny Optical Technology (2382:HK), off 3.5%, and Hang Seng Bank (11:HK), off 3.3%.

On the mainland, the Shanghai Composite rose 0.39% to 2,924.86.

On the other exchanges, the S. Korean Kospi rose 1.21%; the Taiwan TWSE declined 1.16%; the Australian ASX 200 lost 0.71%; the Singapore Straits Times Index fell 0.67%, and the Thai Set inclined 0.25%. In late trading in Mumbai, the Sensex was up 1.7%. The MSCI Asia Apex 50, a broad measure of Asian stock markets excluding Japan, fell 0.78%.
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