By Marketwatch and Associated Press
Asian markets mostly gained in cautious trading Friday amid fresh doubts about the likelihood of a U.S.-China trade deal.
Bloomberg News reported Thursday that Chinese officials were expressing doubts about the chances of a comprehensive trade deal even if a “phase one” partial deal is signed. President Donald Trump, meanwhile, said the U.S. and China were looking for a new site to sign the “phase one” deal in November, since the upcoming Asia-Pacific summit in Chile was canceled.
U.S. stocks closed lower Thursday on the trade-deal concerns, more evidence of a slowdown in manufacturing and mixed corporate earnings.
Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK -0.55% fell 0.4% while Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.09% rose 0.5%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.33% gained 0.7% and the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +0.52% advanced 0.9% after a private gauge found Chinese factory activity expanded in October for the third straight month. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.29% rose 0.4% while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -0.46% , Singapore /zigman2/quotes/210597985/delayed SG:STI -0.92% , Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI +0.51% and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.10% were mixed. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -1.99% was up 0.1%.
Among individual stocks, Nintendo surged in Tokyo trading after the videogame company reported strong quarterly sales of its Switch Lite handheld console. Rakuten /zigman2/quotes/201861450/delayed JP:4755 -1.02% and oil producer Inpex /zigman2/quotes/206689846/delayed JP:1605 +2.60% fell. In Hong Kong, Sunny /zigman2/quotes/206687505/delayed HK:2382 +1.34% property developer Country Garden /zigman2/quotes/201681083/delayed HK:2007 +0.33% and Ping An Insurance /zigman2/quotes/210315058/delayed HK:2318 -0.60% gained. Chip maker SK Hynix /zigman2/quotes/206420319/delayed KR:000660 +0.89% advanced in South Korea while Foxconn /zigman2/quotes/204111604/delayed TW:2354 -1.01% jumped in Taiwan. Beach Energy /zigman2/quotes/200513631/delayed AU:BPT -0.96% gained in Australia while ANZ Banking /zigman2/quotes/205482049/delayed AU:ANZ -5.87% fell.