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Dec. 29, 2019, 11:28 p.m. EST

Asian markets mixed with eyes on North Korea, U.S.-China trade deal

Nikkei dips, stocks in Hong Kong, mainland China rise

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By Associated Press and Marketwatch


Bloomberg News
A pedestrian walks past the Tokyo Stock Exchange.

Asian shares were mixed Monday as investors awaited updates on the signing of a trade deal between the U.S. and China and kept a wary eye on North Korea.

Tokyo’s Nikkei 225 index /zigman2/quotes/210597971/delayed JP:NIK -0.74%   fell 0.7%, while Hong Kong’s Hang Seng /zigman2/quotes/210598030/delayed HK:HSI -0.37%   advanced 0.6%. The Shanghai Composite index /zigman2/quotes/210598127/delayed CN:SHCOMP +0.08%   picked up 0.9% and the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +0.22%   rose 0.8%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.63%   edged 0.1% lower while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -0.46%  , Singapore /zigman2/quotes/210597985/delayed SG:STI -1.20%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX -0.37%   were little changed, Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -2.42%   slipped 0.5%.

Among individual stocks, Rakuten /zigman2/quotes/201861450/delayed JP:4755 -0.26%   fell in Tokyo trading, as did robotics maker Fanuc /zigman2/quotes/202054799/delayed JP:6954 +1.28%  , while Credit Saison /zigman2/quotes/206267090/delayed JP:8253 -7.09%   and textiles-maker Toyobo /zigman2/quotes/205340851/delayed JP:3101 -4.45%  gained. In Hong Kong, Wharf Real Estate /zigman2/quotes/205885756/delayed HK:1997 -1.48%  , Geely Automobile /zigman2/quotes/200716015/delayed HK:175 -0.18%   and AIA Group /zigman2/quotes/203565558/delayed HK:1299 -0.86%   gained. Chip maker SK Hynix /zigman2/quotes/206420319/delayed KR:000660 +0.51%  declined in South Korea, and Oil Search /zigman2/quotes/204702973/delayed AU:OSH +1.49%   dipped in Australia.

Potential moves by North Korea were overhanging markets between the Christmas and New Year holidays.

At a meeting of the country’s ruling Workers’ Party, North Korean leader Kim Jong Un called for his military and diplomats to prepare unspecified “offensive measures” to protect the country’s security and sovereignty, the North’s state media said Monday.

Kim has set an end-of-year deadline for the U.S. to make major concessions to salvage a fragile nuclear diplomacy that hit a major setback at a summit meeting with President Donald Trump in Vietnam’s capital Hanoi.

The plenary meeting of the party’s Central Committee, which began on Saturday, is being closely watched amid concerns that Kim could suspend his deadlocked nuclear negotiations with the United States and take a more confrontational approach by lifting a self-imposed moratorium on nuclear and long-range missile tests.

Elsewhere, European markets closed mostly higher and major U.S. stock indexes closed nearly flat on Friday as the market retreated slightly from its latest highs. Even so, the S&P 500 notched its fifth-straight weekly gain. Retailers and other companies that rely on consumer spending led the rise. Technology stocks also rose. Those gains were checked by losses in banks and communication services companies. The S&P 500 /zigman2/quotes/210599714/realtime SPX -4.41%   was unchanged. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -4.44%   rose 0.1%, while the Nasdaq composite /zigman2/quotes/210598365/realtime COMP -4.41%   slipped 0.2%.

A truce in the 17-month U.S.-China trade war and positive signs for the economy have helped keep investors in a buying mood. Fears about a possible recession have also faded since the summer after the Federal Reserve cut interest rates three times. The central bank appears set to keep them low for a long time.

Still, as the market prepares to close out a strong year of gains next week, uncertainty remains over the final details of the “Phase 1” trade deal between Washington and Beijing, which U.S. officials say will be signed in early January. Details of the agreement have not been disclosed, and it’s unclear how much impact it will have if the two sides are unable to resolve remaining differences. Next year also has the added complication of the U.S. presidential election.

“The main driver continues to be an apparent impending signing of the U.S.-China ‘phase-one’ trade agreement in January and the ensuing boost to world growth that should follow. Whether that growth materializes or not, will be a story for another day,” Jeffrey Halley of Oanda said in a commentary.

Looking ahead, factory data from China is one of the few likely market movers expected this week.

On Monday in Asia, benchmark U.S. crude oil    rose 3 cents to $61.75 per barrel in electronic trading on the New York Mercantile Exchange. It gained 4 cents to $61.72 per barrel on Friday. Brent crude  , the international standard, gained 11 cents to $66.98 per barrel.

In currency trading, the dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.2585%   was at 109.11 Japanese yen, down from 109.47 yen on Friday.

/zigman2/quotes/210597971/delayed
JP : Nikkei
17,931.01
-134.40 -0.74%
Volume: 0.00
April 2, 2020 11:17a
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
22,999.72
-86.07 -0.37%
Volume: 573,807
April 2, 2020 10:22a
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,736.81
+2.29 +0.08%
Volume: 7.24B
April 2, 2020 10:22a
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
1,663.66
+3.58 +0.22%
Volume: 11.32B
April 2, 2020 10:22a
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
1,696.10
+10.64 +0.63%
Volume: 385,866
April 2, 2020 11:17a
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/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
2,411.07
-29.20 -1.20%
Volume: 0.00
April 2, 2020 10:22a
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
4,449.64
-16.40 -0.37%
Volume: 0.00
April 2, 2020 9:27a
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
5,131.10
-127.50 -2.42%
Volume: 449,548
April 2, 2020 1:17p
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/zigman2/quotes/201861450/delayed
JP : Japan: Tokyo
¥ 782.00
-2.00 -0.26%
Volume: 3.56M
April 2, 2020 11:17a
P/E Ratio
N/A
Dividend Yield
0.58%
Market Cap
¥1112.13 billion
Rev. per Employee
¥74.20M
loading...
/zigman2/quotes/202054799/delayed
JP : Japan: Tokyo
¥ 13,865.00
+175.00 +1.28%
Volume: 796,400
April 2, 2020 11:17a
P/E Ratio
32.62
Dividend Yield
N/A
Market Cap
¥2812.30 billion
Rev. per Employee
¥95.87M
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/zigman2/quotes/206267090/delayed
JP : Japan: Tokyo
¥ 1,074.00
-82.00 -7.09%
Volume: 792,000
April 2, 2020 11:17a
P/E Ratio
3.95
Dividend Yield
4.19%
Market Cap
¥196.97 billion
Rev. per Employee
¥66.76M
loading...
/zigman2/quotes/205340851/delayed
JP : Japan: Tokyo
¥ 1,053.00
-49.00 -4.45%
Volume: 375,600
April 2, 2020 11:17a
P/E Ratio
16.76
Dividend Yield
3.80%
Market Cap
¥101.51 billion
Rev. per Employee
¥35.75M
loading...
/zigman2/quotes/205885756/delayed
HK : Hong Kong
HK$ 30.00
-0.45 -1.48%
Volume: 1.07M
April 2, 2020 10:22a
P/E Ratio
23.19
Dividend Yield
6.77%
Market Cap
HK$96.86 billion
Rev. per Employee
HK$5.68M
loading...
/zigman2/quotes/200716015/delayed
HK : Hong Kong
HK$ 10.82
-0.02 -0.18%
Volume: 8.07M
April 2, 2020 10:22a
P/E Ratio
10.69
Dividend Yield
2.31%
Market Cap
HK$105.29 billion
Rev. per Employee
HK$3.04M
loading...
/zigman2/quotes/203565558/delayed
HK : Hong Kong
HK$ 69.10
-0.60 -0.86%
Volume: 7.92M
April 2, 2020 10:22a
P/E Ratio
16.01
Dividend Yield
1.83%
Market Cap
HK$845.24 billion
Rev. per Employee
HK$12.98M
loading...
/zigman2/quotes/206420319/delayed
KR : S. Korea: KRX
78,800.00
+400.00 +0.51%
Volume: 2.77M
April 2, 2020 11:17a
P/E Ratio
26.77
Dividend Yield
1.27%
Market Cap
₩56977.30 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204702973/delayed
AU : Australia: Sydney
$ 2.72
+0.04 +1.49%
Volume: 5.95M
April 2, 2020 1:17p
P/E Ratio
9.27
Dividend Yield
5.19%
Market Cap
$3.63 billion
Rev. per Employee
$1.46M
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/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
loading...
/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
7,360.58
-339.52 -4.41%
Volume: 3.23M
April 1, 2020 5:16p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
107.4420
+0.2770 +0.2585%
Volume: 0.0000
April 1, 2020 10:37p
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