Asian Markets Mixed as Lighthizer Says No Date is Set for Phase Two Talks

Ritu

By Ritu,

Capital Sands

Asian markets were mixed on Monday morning in Asia as U.S. Trade Representative Robert Lighthizersaid the phase one Sino-U.S. trade deal is “totally done,” but no date is set for the next phase two talks.

China’s Shanghai Composite slipped 0.1% by 11:35 PM ET, while the Shenzhen Component gained 0.6%. Hong Kong’s Hang Seng Index dropped 0.3%.

The phase one deal was agreed on Friday and the two nations are expected to official sign the partial accord in the first week of January,

On the data front, China’s industrial output rose 6.2% in November from a year earlier, versus a median estimate of 5.0%. Retail sales expanded 8.0% during the month, compared to a projected 7.6% increase. Fixed-asset investment was unchanged at 5.2% in the first eleven months, the same as forecast.

Japan’s Nikkei 225 traded 0.1% lower. The Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index (PMI) edged down to a seasonally adjusted 48.8 in December from a final 48.9 in the previous month.

The index stayed below the 50.0 threshold that separates contraction from expansion for an eighth month.

South Korea’s KOSPI was little changed.

Down under, Australia’s ASX 200 surged 1.7% even after the country lowered its forecasts for wage increases, economic growth and budget surplus.

Leave a Reply

Your email address will not be published. Required fields are marked *

Next Post

Pound Gains on Brexit Optimism as Focus Shifts to Trade Talks

By Ritu, Capital Sands   Want the lowdown on European markets? In your inbox before the open, every day. Sign up here. The pound rallied for a second day amid optimism a speedy resolution to the Brexit deadlock is in store after the Conservative Party’s election victory. Sterling advanced against all its […]

Subscribe US Now