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Jan. 28, 2019, 6:11 a.m. EST

Asian markets give up gains on concerns about U.S. shutdown deal

Nikkei slips; investors await U.S.-China trade talks later this week

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By Associated Press and Marketwatch


Getty Images/iStockphoto
Stocks rose Monday in South Korea.

Shares fell in Asia on Monday on caution over China-U.S. trade talks and over the ability of congressional negotiators to forge a government funding bill acceptable to President Donald Trump.

The Nikkei 225 index /zigman2/quotes/210597971/delayed JP:NIK -0.69%  closed down 0.6% with uncertainty over those trade talks bringing a lull in buying sentiment.

Hong Kong’s Hang Seng index /zigman2/quotes/210598030/delayed HK:HSI +0.52%   finished flat, while the Shanghai Composite index /zigman2/quotes/210598127/delayed CN:SHCOMP +2.28% slipped 0.2% and the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +3.18%   finished flat. The Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.06%   in South Korea also closeed unchanged. Australia’s markets were closed for a national holiday.

Among individual stocks, Sony /zigman2/quotes/201361720/delayed JP:6758 -2.23%   and Hitachi /zigman2/quotes/203839937/delayed JP:6501 -1.15%   rose in Tokyo, while SoftBank /zigman2/quotes/207303954/delayed JP:9984 +0.42%   and Tokyo Electric /zigman2/quotes/202771076/delayed JP:9501 +0.69%   fell. In Hong Kong, Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 +2.84%   and Tencent /zigman2/quotes/204605823/delayed HK:700 +0.39%   were among the biggest gainers, while CSPC Pharmaceutical /zigman2/quotes/200847219/delayed HK:1093 +1.79%   sank. In Seoul, Samsung /zigman2/quotes/209800866/delayed KR:005930 -0.49%   rose after announcing it was phasing out plastic packaging, and LG Electronics /zigman2/quotes/209966407/delayed KR:066570 0.00%   advanced while SK Hynix /zigman2/quotes/206420319/delayed KR:000660 +0.48%   declined.

There was muted reaction in U.S. markets on Friday to news that Trump and congressional leaders had reached a deal to reopen the federal government for three weeks while talks continue over Trump’s demands for money to build a wall along the U.S. border with Mexico. Trump announced the agreement to break the 35-day impasse as delays at airports and widespread disruptions heightened the urgency to end the partial shutdown. However, uncertainty persists since Trump almost immediately threatened another shutdown or emergency action if he does not get a “fair deal.”

“So the U.S. government being ‘open’ again is a relief. But the greater challenge ahead is to prevent another shutdown come 15th Feb. and to that end, headway in talks between Republicans and Democrats over the next three weeks is critical,” Mizuho Bank said in a commentary. “While how open both sides are on a border security deal remains in the foreground, it is the U.S.-China trade talks (Wed.-Thu.) that will be in the limelight.”

Talks aimed at resolving the impasse over Chinese technology ambitions and other issues are due to resume in Washington later in the week, led by the U.S. Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He. Analysts are forecasting progress in redressing the trade imbalance between the world’s two largest economies, perhaps staving off further hikes in punitive tariffs imposed by both sides, but they expect gaps to remain on key problems such as China’s blueprint for state-led development of leading technologies.

Stocks closed higher Friday, recovering a chunk of their losses from earlier in the week. Technology and industrial companies jumped as companies continued to report solid results for the fourth quarter. The S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.18%   rose 0.85% to 2,664.76, but the index fell 0.2% for the week after big gains in the previous four. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.09%   added 0.7%, to 24,737.20. The Nasdaq composite /zigman2/quotes/210598365/realtime COMP +0.20%   surged 1.3% to 7,164.86.

U.S. crude oil   shed 1.6% to $52.80 per barrel in electronic trading on the New York Mercantile Exchange. It rose 1.1 percent to settle at $53.69 per barrel on Friday. Brent crude  , used to price international oils, gave up 1.7% to $60.58 per barrel. It had gained 0.9 percent on Friday to $61.64 per barrel.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.1521%   was trading at 109.45 yen down from 109.55 yen on Friday.

/zigman2/quotes/210597971/delayed
JP : Nikkei
23,523.24
-164.35 -0.69%
Volume: 0.00
Feb. 17, 2020 3:15p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
27,959.60
+144.00 +0.52%
Volume: 1.41M
Feb. 17, 2020 4:08p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,983.62
+66.61 +2.28%
Volume: 31.32B
Feb. 17, 2020 3:01p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
1,835.96
+56.53 +3.18%
Volume: 48.11B
Feb. 17, 2020 3:00p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,242.17
-1.42 -0.06%
Volume: 458,247
Feb. 17, 2020 3:30p
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/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 7,452.00
-170.00 -2.23%
Volume: 5.60M
Feb. 17, 2020 3:00p
P/E Ratio
14.36
Dividend Yield
0.60%
Market Cap
¥9347.75 billion
Rev. per Employee
¥72.37M
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/zigman2/quotes/203839937/delayed
JP : Japan: Tokyo
¥ 4,116.00
-48.00 -1.15%
Volume: 2.44M
Feb. 17, 2020 3:00p
P/E Ratio
20.41
Dividend Yield
2.19%
Market Cap
¥4023.41 billion
Rev. per Employee
¥30.84M
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/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 5,540.00
+23.00 +0.42%
Volume: 15.56M
Feb. 17, 2020 3:00p
P/E Ratio
37.17
Dividend Yield
0.79%
Market Cap
¥11427.70 billion
Rev. per Employee
¥126.96M
loading...
/zigman2/quotes/202771076/delayed
JP : Japan: Tokyo
¥ 438.00
+3.00 +0.69%
Volume: 7.43M
Feb. 17, 2020 3:00p
P/E Ratio
3.82
Dividend Yield
N/A
Market Cap
¥696.97 billion
Rev. per Employee
¥149.25M
loading...
/zigman2/quotes/206687505/delayed
HK : Hong Kong
HK$ 134.00
+3.70 +2.84%
Volume: 8.33M
Feb. 17, 2020 4:08p
P/E Ratio
46.60
Dividend Yield
0.49%
Market Cap
HK$142.92 billion
Rev. per Employee
HK$1.08M
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 416.60
+1.60 +0.39%
Volume: 10.68M
Feb. 17, 2020 4:08p
P/E Ratio
40.61
Dividend Yield
0.24%
Market Cap
HK$3932.81 billion
Rev. per Employee
HK$8.27M
loading...
/zigman2/quotes/200847219/delayed
HK : Hong Kong
HK$ 19.36
+0.34 +1.79%
Volume: 25.09M
Feb. 17, 2020 4:08p
P/E Ratio
30.39
Dividend Yield
0.93%
Market Cap
HK$118.43 billion
Rev. per Employee
HK$1.88M
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
61,500.00
-300.00 -0.49%
Volume: 8.74M
Feb. 17, 2020 3:30p
P/E Ratio
16.98
Dividend Yield
2.30%
Market Cap
₩419787.00 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/209966407/delayed
KR : S. Korea: KRX
67,000.00
0.00 0.00%
Volume: 560,384
Feb. 17, 2020 3:30p
P/E Ratio
65.91
Dividend Yield
1.12%
Market Cap
₩12064.40 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206420319/delayed
KR : S. Korea: KRX
105,000
+500.00 +0.48%
Volume: 1.19M
Feb. 17, 2020 3:30p
P/E Ratio
35.50
Dividend Yield
0.95%
Market Cap
₩71478.20 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,380.16
+6.22 +0.18%
Volume: 1.67B
Feb. 14, 2020 5:06p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
29,398.08
-25.23 -0.09%
Volume: 232.55M
Feb. 14, 2020 5:06p
loading...
/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
9,731.18
+19.21 +0.20%
Volume: 2.03M
Feb. 14, 2020 5:16p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
109.9340
+0.1670 +0.1521%
Volume: 0.0000
Feb. 17, 2020 2:36p
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