Asian Stocks open mixed as trade talks in focus

2019-04-16 10:13:25 GMT (
Asian Stocks open mixed as trade talks in focus

The Asian stocks indices opened mixed on the week's second session, with a mixed performance in the Japanese stock indices, while the Chinese indices in addition to South Korea's Kospi and Hong Kong's Hang Seng fell. Otherwise, the Australian and New Zealand stocks rose today after the Australian Central Bank revealed its last meeting minutes amid a lookout for what will result from the ongoing trade talks between the United States and Japan in Washington, which will continue till Thursday.


Earlier this week, Governor of the Bank of Japan, Haruhiko Kuroda, said in an interview with CNBC that some types of trade protectionism in international trade were the most serious threat to the global economy. This came in conjunction with the Japanese Economy Minister, Toshimitsu Motegi, visit to the United States for formal trade talks between Tokyo and Washington.


In the same context, the Japanese Economy Minister Hiroshige SekĊ said during a press conference with the US Trade Representative Robert Lighthizer in Washington on Monday, that he had “frank and good” trade talks with his US counterpart, in response to US President Donald Trump's recent criticism on the trade surplus in favor of Japan with his country, which reached a peak of $69 billion and that he wants to reach a two-way deal to address it.


In another context, markets are also focusing on the ongoing trade negotiations between the United States and China amid expectations that a trade deal is on the horizon, which could avoid a major trade war between the two countries, as the US Treasury Secretary, Steven Mnuchin, recently praised the course of events during the US-China trade negotiations, saying that the two countries are close to reaching a final agreement.


In terms of trading, the Japanese stock indices saw a variation in performance during today's trading session, with the broader TOPIX index falling by 0.19% (3.13 points) down to 1,624.80, while Nikkei 225 index rose 0.04% (9.72 points) up to 22,178.83.


While the Chinese stock indices fell during the session, with CSI 300 falling by 0.24%  (9.40 points) to reach 3,966.12, in addition to Shanghai composite falling by 0.43% (13.54 points) to 3,164.25.


Hong Kong's Hang Seng Index shed 0.29% (85.40 points) to 29,725.32. As South Korea's Kospi fell 0.12%, (2.73 points) to 2,240.15.


To the New Zealand NZX 50 index, which rose 0.55% (54.55 points) and reached 9,900.90. In addition to, Australia's S&P/ASX 200 index rising by 0.50% (31.36 points) to reach 6,282.80.

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