By Marketwatch and Associated Press
Asian markets were mixed Tuesday, as investors weighed the tariff truce between the U.S. and China and the potential for a trade deal.
President Donald Trump said Monday that renewed talks have “already begun,” CNBC reported, and added that any deal “has to be better for us than for them.” But days after the trade-war timeout was announced, details were still scarce, with no announcement of high-level negotiations and the looming possibility that new tariffs could still be imposed if talks are not successful.
Stocks rose on Wall Street, though off session highs, and Morgan Stanley analysts warned that barring concrete progress, the truce rally may be short-lived.
Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +1.59% rose 0.1%, while Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.01% , which was closed for a holiday Monday, gained 1.3%, essentially making up lost ground as most Asian markets surged Monday. The territory appeared calm a day after protesters and police clashed again. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -1.56% was flat, while the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -2.07% rose 0.2%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.84% declined 0.3%, and benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -0.05% and Singapore /zigman2/quotes/210597985/delayed SG:STI +1.10% fell, while Indonesia’s /zigman2/quotes/210597981/delayed ID:JAKIDX -0.07% was flat. Stocks rose in Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI -0.83% . Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +1.88% gained 0.4% ahead of a monetary-policy announcement by the Reserve Bank of Australia, which cut interest rates 25 basis points to 1%, citing risks to growth from a global trade dispute.
Among individual stocks, Fujitsu /zigman2/quotes/208459594/delayed JP:6702 +1.28% gained in Tokyo trading. Hitachi /zigman2/quotes/203839937/delayed JP:6501 +1.47% also rose, while oil producer Inpex /zigman2/quotes/206689846/delayed JP:1605 +3.92% fell. In Hong Kong, smartphone component makers Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 -3.09% and AAC /zigman2/quotes/201441510/delayed HK:2018 -5.86% surged, as did casino operators Sands China /zigman2/quotes/207609245/delayed HK:1928 -2.01% and Galaxy Entertainment /zigman2/quotes/202884203/delayed HK:27 +0.46% . Chip maker SK Hynix /zigman2/quotes/206420319/delayed KR:000660 +0.12% advanced in South Korea while Hyundai Motor /zigman2/quotes/206684590/delayed KR:005380 +7.39% fell. Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO +3.68% rose in Australia, while Westpac Banking /zigman2/quotes/203084975/delayed AU:WBC +0.84% slipped.