Asian stocks open mixed with US-China trade talks in focus

2019-07-17 08:59:06 GMT (
Asian stocks open mixed with US-China trade talks in focus

Asian stocks opened the third session of the week on a mixed performance, with Japanese, New Zealand, Hong Kong's Hang Seng and South Korea's Kospi indices falling, while Chinese and Australian stocks rose amid investors' anticipation for developments in the trade talks between Washington and Beijing.


The US president said that the road is still long before talking about the possibility of reaching a final trade agreement with China. Both the European Union and China are injecting funds into their financial system. He said that his administration could impose tariffs on imports from China, if desired, adding that the federal funds rate cut will support stock markets and their rise.


US Treasury Secretary Steven Mnuchin noted earlier this week that a telephone conversation with Chinese officials is expected later this week as part of the resumption of the trade talks between the Washington-Beijing. In another context, Chinese Premier Li Keqiang said that the risks of declining is growing against China's economic growth and his country will maintain prudent monetary policy and proactive fiscal policy.


Otherwise, we also followed yesterday. Fed Governor Jerome Powell saying that the US inflation accelerated last month to 1.7%, and inflationary pressures were still below 2% and that the Federal Reserve is "carefully monitoring" and will "act as necessary to maintain the expansion," he said in testimony before Congress last week.


Japanese stock indices saw a mixed performance during today's trading session, with the broader Topix index rising by 0.11% to win 1.65 points up to 1,570.39, while Nikkei 225 fell by 0.32% to lose 68.15 points down to 21,467.10.


As for Chinese stocks, the CSI 300 index gained 0.26% (10.03 points) reaching 3,816.87. The Shanghai Composite Index rose 0.07% (2.14 points) to reach 2,939.76.


Hong Kong's Hang Seng Index shed 0.20% (57.33 points) to 28,562.29. South Korea's Kospi Index fell 1.00% (20.96 points) to 2,070.91.


To the NZX 50 index of New Zealand shares, which fell by 0.01% (0.75 points) and reach 10,650.45. On the other hand, the S&P/ASX 200 index of Australian shares rose by 0.44% (28.90 points) and reached 6,669.90.

  Symbol Last Change Chg.%