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 (NIKKEI:JP:NIK) was about flat, while Hong Kong’s Hang Seng (HONG:HK:HSI) slipped 0.4%. The Shanghai Composite (SHG:CN:SHCOMP) was down 0.6%, and South Korea’s Kospi (KOREA:KR:180721) declined 1%. Singapore’s benchmark index (SES:SG:STI) retreated, while Taiwan’s inched up. Stocks in Australia (S&P:AU:XJO) were down slightly.
Among individual stocks, Sony (TKS:JP:6758) and Nintendo tumbled in Tokyo trading after Google unveiled its new streaming videogame service, Stadia. In Hong Kong, PetroChina (HKG:HK:857) rose while property companies such as China Overseas Land & Investment (HKG:HK:688) and China Resources Land (HKG:HK:1109) fell. Samsung (KRX:KR:005930) slipped in South Korea while LG Electronics (KRX:KR:066570) advanced. Fortescue Metals (ASX:AU:FMG) sank in Australia, along with fellow mining stocks Rio Tinto (ASX:AU:RIO) and BHP (ASX:AU:BHP) .