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 +0.40% fell 0.4% while Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.31% rose 0.5%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +1.39% gained 0.7% and the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +2.70% 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 +0.42% rose 0.4% while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +0.18% , Singapore /zigman2/quotes/210597985/delayed SG:STI -0.63% , Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI -0.02% and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX -0.46% were mixed. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.59% 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 +1.21% and oil producer Inpex /zigman2/quotes/206689846/delayed JP:1605 -0.85% fell. In Hong Kong, Sunny /zigman2/quotes/206687505/delayed HK:2382 +2.36% property developer Country Garden /zigman2/quotes/201681083/delayed HK:2007 -0.18% and Ping An Insurance /zigman2/quotes/210315058/delayed HK:2318 +0.45% gained. Chip maker SK Hynix /zigman2/quotes/206420319/delayed KR:000660 -0.84% advanced in South Korea while Foxconn /zigman2/quotes/204111604/delayed TW:2354 -0.34% jumped in Taiwan. Beach Energy /zigman2/quotes/200513631/delayed AU:BPT +0.69% gained in Australia while ANZ Banking /zigman2/quotes/205482049/delayed AU:ANZ +0.43% fell.