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Nov. 7, 2019, 11:37 p.m. EST

Asian markets mixed amid conflicting reports of tariff rollbacks

Nikkei about flat, while Hang Seng retreats slightly

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By Marketwatch and Associated Press


Getty Images/iStockphoto
Stocks were up slightly in Shanghai on Friday.

Asian markets were mixed in early trading Friday as investors sought clarity after conflicting messages about the state of U.S.-China trade talks.

Chinese officials announced Thursday that a mutual rollback of tariffs had been agreed upon as part of a “phase one” trade deal, but while one U.S. official confirmed that, two others disputed it, according to the Wall Street Journal. Reuters reported that the subject of rolling back tariffs faced “fierce internal opposition” within the White House.

China got encouraging economic news as exports fell less than expected in October, down just 0.9% from the prior year compared to September’s 3.2% decline. Experts had expected a 3.1% fall. Chinese imports also fell less than expected.

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +0.10%   inched up 0.1% while Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.22%   retreated 0.4%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.33%   rose 0.3% and the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +0.52%   gained 0.8%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.70%   declined 0.2%, while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -0.46%  , Singapore /zigman2/quotes/210597985/delayed SG:STI -0.71%  , Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI +0.64%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.31%   were mixed. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -1.61%   dipped 0.2%.

Among individual stocks, SoftBank /zigman2/quotes/207303954/delayed JP:9984 +3.29%   gained in Tokyo trading, as did Toyota /zigman2/quotes/203803129/delayed JP:7203 +0.44%   , while retailers Fast Retailing /zigman2/quotes/200663563/delayed JP:9983 -0.33%   and Rakuten /zigman2/quotes/201861450/delayed JP:4755 -0.13%   fell. In Hong Kong, Geely Automobile /zigman2/quotes/200716015/delayed HK:175 +1.66%   rose while New World Development /zigman2/quotes/202357413/delayed HK:17 -0.84%   and Tencent /zigman2/quotes/204605823/delayed HK:700 +0.53%   declined. SK Hynix /zigman2/quotes/206420319/delayed KR:000660 +1.28%   fell in South Korea while Apple component maker Largan Precision /zigman2/quotes/210444196/delayed TW:3008 -1.83%  advanced in Taiwan. Beach Energy /zigman2/quotes/200513631/delayed AU:BPT -0.77%   and Woodside Petroleum /zigman2/quotes/203437212/delayed AU:WPL +0.51%   gained in Australia.

If the deal pans out, “it will be an emphatic upside surprise for the global economy,” said Vishnu Varathan of Mizuho Bank in a report.

However, “we cannot rule out a gap” between the U.S. and Chinese positions, Varathan warned. And he said the Federal Reserve might turn “less dovish” if the deal “takes off with more promise than anticipated” and tariffs fall, easing pressure on U.S. economic growth.

On Wall Street, the benchmark S&P 500 index /zigman2/quotes/210599714/realtime SPX -4.41%   gained 0.3% to a record 3,085.18. It was up 0.7% at one point. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -4.44%   climbed 0.7% to a record 27,674.80. The Nasdaq composite /zigman2/quotes/210598365/realtime COMP -4.41%   finished just shy of its all-time high after rising 0.3% to 8,434.52.

Encouraging reports on the U.S. economy and corporate profits have helped drive stocks back to record heights. The job market is strong, and the Fed has cut interest rates three times.

That leaves the U.S.-Chinese trade war as the wild card for the global economy.

Benchmark U.S. crude   fell 20 cents to $56.95 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 80 cents on Thursday to close at $57.15. Brent crude  , used to price international oils, declined 10 cents to $62.19 per barrel in London. It advanced 55 cents the previous session to $62.29.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.2818%   declined to 109.24 yen from Thursday’s 109.28 yen.

/zigman2/quotes/210597971/delayed
JP : Nikkei
18,084.20
+18.79 +0.10%
Volume: 0.00
April 2, 2020 12:43p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
23,136.13
+50.34 +0.22%
Volume: 972,158
April 2, 2020 11:48a
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,743.64
+9.12 +0.33%
Volume: 11.04B
April 2, 2020 11:48a
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
1,668.71
+8.63 +0.52%
Volume: 17.20B
April 2, 2020 11:30a
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
1,714.03
+28.57 +1.70%
Volume: 490,837
April 2, 2020 12:43p
loading...
/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
9,663.63
-44.43 -0.46%
Volume: 0.00
April 1, 2020 1:33p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,422.99
-17.28 -0.71%
Volume: 0.00
April 2, 2020 11:48a
loading...
/zigman2/quotes/210598052/delayed
MY : Malaysia
1,331.18
+8.52 +0.64%
Volume: 0.00
April 2, 2020 11:48a
loading...
/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
4,480.06
+14.03 +0.31%
Volume: 0.00
April 2, 2020 10:53a
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
5,173.90
-84.70 -1.61%
Volume: 600,651
April 2, 2020 2:43p
loading...
/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 3,796.00
+121.00 +3.29%
Volume: 25.42M
April 2, 2020 12:43p
P/E Ratio
25.47
Dividend Yield
1.16%
Market Cap
¥7846.29 billion
Rev. per Employee
¥126.96M
loading...
/zigman2/quotes/203803129/delayed
JP : Japan: Tokyo
¥ 6,359.00
+28.00 +0.44%
Volume: 5.61M
April 2, 2020 12:43p
P/E Ratio
7.35
Dividend Yield
3.46%
Market Cap
¥18073.10 billion
Rev. per Employee
¥81.43M
loading...
/zigman2/quotes/200663563/delayed
JP : Japan: Tokyo
¥ 41,810.00
-140.00 -0.33%
Volume: 840,400
April 2, 2020 12:43p
P/E Ratio
26.71
Dividend Yield
1.20%
Market Cap
¥4510.49 billion
Rev. per Employee
¥40.83M
loading...
/zigman2/quotes/201861450/delayed
JP : Japan: Tokyo
¥ 783.00
-1.00 -0.13%
Volume: 4.07M
April 2, 2020 12:43p
P/E Ratio
N/A
Dividend Yield
0.57%
Market Cap
¥1112.13 billion
Rev. per Employee
¥74.20M
loading...
/zigman2/quotes/200716015/delayed
HK : Hong Kong
HK$ 11.02
+0.18 +1.66%
Volume: 13.93M
April 2, 2020 11:48a
P/E Ratio
10.89
Dividend Yield
2.27%
Market Cap
HK$105.29 billion
Rev. per Employee
HK$3.04M
loading...
/zigman2/quotes/202357413/delayed
HK : Hong Kong
HK$ 8.31
-0.07 -0.84%
Volume: 7.01M
April 2, 2020 11:48a
P/E Ratio
10.77
Dividend Yield
6.14%
Market Cap
HK$85.26 billion
Rev. per Employee
HK$1.84M
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 376.40
+2.00 +0.53%
Volume: 5.50M
April 2, 2020 11:48a
P/E Ratio
33.99
Dividend Yield
0.32%
Market Cap
HK$3603.02 billion
Rev. per Employee
HK$8.27M
loading...
/zigman2/quotes/206420319/delayed
KR : S. Korea: KRX
79,400.00
+1,000 +1.28%
Volume: 3.67M
April 2, 2020 12:43p
P/E Ratio
26.98
Dividend Yield
1.26%
Market Cap
₩56977.30 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210444196/delayed
TW : Taiwan
NT$ 3,760.00
-70.00 -1.83%
Volume: 501,854
April 1, 2020 1:30p
P/E Ratio
17.98
Dividend Yield
1.81%
Market Cap
NT$513.76 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 1.30
-0.01 -0.77%
Volume: 9.23M
April 2, 2020 2:43p
P/E Ratio
5.17
Dividend Yield
1.54%
Market Cap
$2.62 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203437212/delayed
AU : Australia: Sydney
$ 19.74
+0.10 +0.51%
Volume: 3.98M
April 2, 2020 2:43p
P/E Ratio
38.19
Dividend Yield
6.91%
Market Cap
$17.34 billion
Rev. per Employee
$1.92M
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
2,470.50
-114.09 -4.41%
Volume: 3.67B
April 1, 2020 5:09p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
20,943.51
-973.65 -4.44%
Volume: 508.31M
April 1, 2020 5:09p
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/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
7,360.58
-339.52 -4.41%
Volume: 3.23M
April 1, 2020 5:16p
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
107.4670
+0.3020 +0.2818%
Volume: 0.0000
April 2, 2020 12:03a
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