Asian markets mostly gained in cautious trading Friday amid fresh doubts about the likelihood of a U.S.-China trade deal.
Bloomberg News reported Thursday that Chinese officials were expressing doubts about the chances of a comprehensive trade deal even if a “phase one” partial deal is signed. President Donald Trump, meanwhile, said the U.S. and China were looking for a new site to sign the “phase one” deal in November, since the upcoming Asia-Pacific summit in Chile was canceled.
U.S. stocks closed lower Thursday on the trade-deal concerns, more evidence of a slowdown in manufacturing and mixed corporate earnings.
fell 0.4% while Hong Kong’s Hang Seng Index
rose 0.5%. The Shanghai Composite
gained 0.7% and the smaller-cap Shenzhen Composite
advanced 0.9% after a private gauge found Chinese factory activity expanded in October for the third straight month. South Korea’s Kospi
rose 0.4% while benchmark indexes in Taiwan
were mixed. Australia’s S&P/ASX 200
was up 0.1%.
Among individual stocks, Nintendo
surged in Tokyo trading after the videogame company reported strong quarterly sales of its Switch Lite handheld console. Rakuten
and oil producer Inpex
fell. In Hong Kong, Sunny
property developer Country Garden
and Ping An Insurance
gained. Chip maker SK Hynix
advanced in South Korea while Foxconn
jumped in Taiwan. Beach Energy
gained in Australia while ANZ Banking