By Marketwatch and Associated Press
Asian markets gained slightly in muted early trading Tuesday, after stocks closed higher on Wall Street to kick off a busy earnings week.
Investors were also encouraged by trade developments, after the South China Morning Post reported U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin would travel to Beijing next week for renewed trade negotiations with China. Later Monday, the Wall Street Journal reported President Donald Trump had agreed to make “timely” licensing decisions for U.S. tech companies seeking to renew sales with Huawei Technologies Co.
Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +2.55% rose 0.9% and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +2.57% edged up 0.2%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +1.78% was up 0.1% while the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +1.48% advanced 0.4%. Shanghai’s new STAR market declined following a big pop in its debut Monday. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.54% rose 0.5%, while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +0.77% , Singapore /zigman2/quotes/210597985/delayed SG:STI +0.61% and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.94% barely moved. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.46% advanced 0.4%.
Among individual stocks, SoftBank /zigman2/quotes/207303954/delayed JP:9984 +1.25% surged in Tokyo trading, along with oil-and-gas engineering company Chiyoda /zigman2/quotes/208670809/delayed JP:6366 +1.05% and chip maker Tokyo Electron /zigman2/quotes/202883609/delayed JP:8035 +5.87% . In Hong Kong, tech-component makers Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 +2.44% and AAC /zigman2/quotes/201441510/delayed HK:2018 +0.68% rose, while property company Country Garden /zigman2/quotes/201681083/delayed HK:2007 +1.89% fell. Chip maker SK Hynix /zigman2/quotes/206420319/delayed KR:000660 +5.40% jumped in South Korea after an endorsement by Goldman Sachs over the weekend, while, Hyundai Motor /zigman2/quotes/206684590/delayed KR:005380 +0.83% sank after missing quarterly earnings expectations despite a big jump in profit. In Australia, Oil Search /zigman2/quotes/204702973/delayed AU:OSH +0.82% gained while Fortescue Metals /zigman2/quotes/202351558/delayed AU:FMG +2.00% fell.