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Jan. 12, 2020, 11:35 p.m. EST

Asian markets subdued ahead of signing of U.S.-China ‘phase one’ trade deal

Stocks edge up in Hong Kong, mainland China; Nikkei closed

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By Marketwatch


Getty Images/iStock Photos
Stocks rose slightly Monday in Hong Kong.

Asian markets were mixed in subdued early trading Monday, ahead of the signing of a “phase one” trade deal between the U.S. and China later this week.

The world’s two largest economic powers are scheduled to sign the phase-one deal Wednesday in Washington, with China reportedly agreeing to buy more U.S. agricultural products and implementing economic reforms, and some tariff relief coming from the U.S. The Wall Street Journal reported Saturday that the U.S. and China have also agreed to hold semiannual talks to discuss and resolve points of dispute.

“It’s unlikely there will be an exceptional level of excitement in the market as the agreement has been extensively telegraphed, although President Trump will likely herald the deal in with much fanfare,” wrote Stephen Innes, chief Asia market strategist for AxiTrader, in a note Sunday. “Provided the deal inks a commitment from China to increase agricultural products and outlines a dependable enforcement mechanism, the market will go merrily along the way.”

Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.38%   rose 0.8%, while the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.08%   was about flat and the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -0.46%   advanced 0.7%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.09%   gained 0.6% while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +0.38%  , SIngapore /zigman2/quotes/210597985/delayed SG:STI -0.23%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.39%   were mixed. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.02%   fell 0.5%. Japan’s Nikkei was closed for a holiday.

Among individual stocks, Apple component makers Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 -2.50%   and AAC /zigman2/quotes/201441510/delayed HK:2018 -2.98%  rose in Hong Kong trading, along with Sun Hung Kai Properties /zigman2/quotes/209086152/delayed HK:16 +0.05%   and Bank of China /zigman2/quotes/204682472/delayed HK:3988 +1.10%  . Hyundai Motor /zigman2/quotes/206684590/delayed KR:005380 +1.99%   advanced in South Korea, while BHP /zigman2/quotes/201448516/delayed AU:BHP -0.13%   and Oil Search /zigman2/quotes/204702973/delayed AU:OSH -0.26%   fell in Australia.

Stocks ended lower Friday, after the Dow briefly topped the 29,000 milestone, with investor euphoria over recent record highs deflated by data showing slower-than-expected U.S. jobs and wage growth in December. The S&P 500 index /zigman2/quotes/210599714/realtime SPX -1.18%   fell 0.3% to 3,265.35 from its record set Thursday. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -1.34%   briefly topped the 29,000 level for the first time but ended down 0.5%. The Nasdaq composite /zigman2/quotes/210598365/realtime COMP -1.83%   dropped 0.3%, to 9,178.86.

Benchmark U.S. crude   gained 1 cent to $59.05 per barrel in electronic trading on the New York Mercantile Exchange. The contract lost 52 cents on Friday to close at $59.04. Brent crude  , used to price international oils, retreated 6 cents to $64.92 per barrel in London. It declined 39 cents the previous session to $64.98.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.2234%   gained to 109.62 yen from Friday’s 109.46 yen.

The Associated Press contributed to this report.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
23,748.82
+89.90 +0.38%
Volume: 869,995
Dec. 2, 2021 11:03a
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,574.00
-2.88 -0.08%
Volume: 19.35B
Dec. 2, 2021 11:03a
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,512.50
-11.64 -0.46%
Volume: 27.29B
Dec. 2, 2021 11:03a
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,931.35
+31.63 +1.09%
Volume: 318,928
Dec. 2, 2021 11:58a
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
17,652.52
+66.53 +0.38%
Volume: 0.00
Dec. 2, 2021 10:58a
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,091.22
-7.03 -0.23%
Volume: 0.00
Dec. 2, 2021 11:03a
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
6,533.34
+25.66 +0.39%
Volume: 0.00
Dec. 2, 2021 10:08a
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,234.20
-1.70 -0.02%
Volume: 303,837
Dec. 2, 2021 1:58p
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/zigman2/quotes/206687505/delayed
HK : Hong Kong
$ 226.60
-5.80 -2.50%
Volume: 1.40M
Dec. 2, 2021 11:03a
P/E Ratio
36.48
Dividend Yield
0.47%
Market Cap
$258.05 billion
Rev. per Employee
$1.75M
loading...
/zigman2/quotes/201441510/delayed
HK : Hong Kong
$ 32.60
-1.00 -2.98%
Volume: 2.44M
Dec. 2, 2021 11:03a
P/E Ratio
16.00
Dividend Yield
1.23%
Market Cap
$41.09 billion
Rev. per Employee
$570,931
loading...
/zigman2/quotes/209086152/delayed
HK : Hong Kong
$ 94.50
+0.05 +0.05%
Volume: 2.20M
Dec. 2, 2021 11:02a
P/E Ratio
10.26
Dividend Yield
5.24%
Market Cap
$274.71 billion
Rev. per Employee
$2.21M
loading...
/zigman2/quotes/204682472/delayed
HK : Hong Kong
$ 2.75
+0.03 +1.10%
Volume: 129.20M
Dec. 2, 2021 11:02a
P/E Ratio
3.48
Dividend Yield
8.64%
Market Cap
$1013.13 billion
Rev. per Employee
$3.34M
loading...
/zigman2/quotes/206684590/delayed
KR : S. Korea: KRX
205,000
+4,000 +1.99%
Volume: 433,287
Dec. 2, 2021 11:58a
P/E Ratio
9.76
Dividend Yield
1.95%
Market Cap
₩44757.18 billion
Rev. per Employee
₩1.45B
loading...
/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 39.85
-0.05 -0.13%
Volume: 3.26M
Dec. 2, 2021 1:57p
P/E Ratio
13.47
Dividend Yield
10.10%
Market Cap
$197.55 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204702973/delayed
AU : Australia: Sydney
$ 3.85
-0.01 -0.26%
Volume: 2.28M
Dec. 2, 2021 1:57p
P/E Ratio
77.00
Dividend Yield
0.00%
Market Cap
$7.92 billion
Rev. per Employee
$1.22M
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,513.04
-53.96 -1.18%
Volume: 3.04B
Dec. 1, 2021 5:04p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
34,022.04
-461.68 -1.34%
Volume: 498.38M
Dec. 1, 2021 5:04p
loading...
/zigman2/quotes/210598365/realtime
US : Nasdaq
15,254.05
-283.64 -1.83%
Volume: 5.47M
Dec. 1, 2021 5:16p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
113.0310
+0.2520 +0.2234%
Volume: 0.0000
Dec. 1, 2021 10:18p
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