By Marketwatch and Associated Press
Asian markets were mostly down in lackluster trading early Wednesday, as investors processed mixed signals on U.S.-China trade talks and awaited the Fed’s meeting later in the day.
On Tuesday, Bloomberg News reported that some U.S. officials were worried that China was reneging on trade concessions and that Chinese negotiators have recently pushed back because the U.S. has not sufficiently assured them that tariffs will be lifted if a trade deal is made. But later in the day, the Wall Street Journal reported that talks were in their final stages, and top U.S. officials would fly to Beijing next week for more talks, with the goal of closing a deal by the end of April.
Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK -0.65% was about flat, while Hong Kong’s Hang Seng /zigman2/quotes/210598030/delayed HK:HSI +0.55% slipped 0.4%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.09% was down 0.6%, and South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.57% declined 1%. Singapore’s benchmark index /zigman2/quotes/210597985/delayed SG:STI -0.20% retreated, while Taiwan’s inched up. Stocks in Australia /zigman2/quotes/210598100/delayed AU:XJO -0.15% were down slightly.
Among individual stocks, Sony /zigman2/quotes/201361720/delayed JP:6758 -2.27% and Nintendo /zigman2/quotes/208063194/delayed JP:7974 +2.03% tumbled in Tokyo trading after Google unveiled its new streaming videogame service, Stadia. In Hong Kong, PetroChina /zigman2/quotes/204979431/delayed HK:857 +0.29% rose while property companies such as China Overseas Land & Investment /zigman2/quotes/205731176/delayed HK:688 +2.76% and China Resources Land /zigman2/quotes/202417326/delayed HK:1109 +2.45% fell. Samsung /zigman2/quotes/209800866/delayed KR:005930 +1.88% slipped in South Korea while LG Electronics /zigman2/quotes/209966407/delayed KR:066570 +1.67% advanced. Fortescue Metals /zigman2/quotes/202351558/delayed AU:FMG -0.12% sank in Australia, along with fellow mining stocks Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO -1.63% and BHP /zigman2/quotes/201448516/delayed AU:BHP -0.48% .