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Asian markets churned forward of new turn of U.S.-China trade talks

Asian bonds were mostly aloft on Monday as traders watched for developments on a uninformed turn of trade talks between American and Chinese officials in Beijing this week. Markets in China and Taiwan, reopening after a weeklong Lunar New Year break, posted extended gains.

The Shanghai Composite index

SHCOMP, +1.36%

 surged 1.4%, while a smaller-cap Shenzhen Composite

399106, +2.90%

  jumped 2%. The Kospi

SEU, +0.17%

  in South Korea gained 0.1% while Hong Kong’s Hang Seng

HSI, +0.71%

  rose 0.7%. Australia’s SP ASX 200

XJO, -0.18%

  slipped 0.2%. Stocks rose in Taiwan

Y9999, +0.72%

  though fell in Singapore

STI, -0.11%

  and Indonesia

JAKIDX, -0.23%

 . Japanese markets were sealed for a holiday.

Among particular stocks, tech names such as AAC

2018, +5.06%

 , Sunny Optical

2382, +7.60%

  and Tencent

0700, +1.85%

  rose in Hong Kong, while genuine estate companies fell. Hyundai Motors

005380, +1.59%

  rose in Korea, while Taiwan Semiconductor

2330, +3.17%

  and Foxconn

2354, +0.51%

  rose in Taiwan. Bank bonds fell in Australia, led by National Australia Bank

NAB, -1.62%

  and ANZ Banking

ANZ, -1.30%

 .

Gains by record and consumer products companies led many U.S. indexes aloft on Friday. They some-more than offset out waste by financial bonds and retailers after a churned bag of quarterly earnings. The extended SP 500 index

SPX, +0.07%

  climbed 0.1% to 2,707.88 and a Nasdaq combination

COMP, +0.14%

  rose 0.1% to 7,298.20. The Dow Jones Industrial Average

DJIA, -0.25%

  mislaid 0.3% to 25,106.33.

Officials from a U.S. and China will accumulate in Beijing for trade talks on Thursday and Friday. U.S. Treasury Secretary Stephen Mnuchin and trade deputy Robert Lighthizer will lead a American commission during a talks, that are directed during bringing both sides closer to solution entrenched issues such as unhappiness over Beijing’s record policy. Lower-level negotiations are set to start Monday, though a fortitude isn’t approaching before a equal on tariffs expires in early March. Any agreement before then, or a elementary prolongation of a truce, will be noticed as a certain for markets. If not, a U.S. is approaching to lift import taxes from 10% to 25% on $200 billion in Chinese goods.

Axios on Sunday reported White House advisors are deliberation President Donald Trump’s Florida club, Mar-a-Lago, as a site for a intensity limit with China’s Xi Jinping where a understanding could be reached as shortly as mid-March to finish a trade war.

“For markets, after a misfortune Dec and best Jan in years, it appears that we are behind during rhythm indicate opposite several item classes, watchful for instruction nonetheless again,” Jingyi Pan of IG pronounced in a marketplace commentary.

U.S. wanton

CLH9, -0.87%

  mislaid 46 cents to $52.26 per tub in electronic trade on a New York Mercantile Exchange. Brent wanton

LCOJ9, -0.29%

 , used to cost general oils, strew 14 cents to $61.96 per barrel.

The dollar

USDJPY, +0.29%

  rose to 110.01 yen from 109.73 yen late Friday.

Providing vicious information for a U.S. trade day. Subscribe to MarketWatch’s giveaway Need to Know newsletter. Sign adult here.

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Article source: https://www.marketwatch.com/story/asian-markets-mixed-ahead-of-new-round-of-us-china-trade-talks-2019-02-10

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