Asian markets were mixed Tuesday, as investors weighed the tariff truce between the U.S. and China and the potential for a trade deal.
President Donald Trump said Monday that renewed talks have “already begun,” CNBC reported, and added that any deal “has to be better for us than for them.” But days after the trade-war timeout was announced, details were still scarce, with no announcement of high-level negotiations and the looming possibility that new tariffs could still be imposed if talks are not successful.
Stocks rose on Wall Street, though off session highs, and Morgan Stanley analysts warned that barring concrete progress, the truce rally may be short-lived.
rose 0.1%, while Hong Kong’s Hang Seng Index
, which was closed for a holiday Monday, gained 1.3%, essentially making up lost ground as most Asian markets surged Monday. The territory appeared calm a day after protesters and police clashed again. The Shanghai Composite
was flat, while the smaller-cap Shenzhen Composite
rose 0.2%. South Korea’s Kospi
declined 0.3%, and benchmark indexes in Taiwan
fell, while Indonesia’s
was flat. Stocks rose in Malaysia
. Australia’s S&P/ASX 200
gained 0.4% ahead of a monetary-policy announcement by the Reserve Bank of Australia, which cut interest rates 25 basis points to 1%, citing risks to growth from a global trade dispute.
Among individual stocks, Fujitsu
gained in Tokyo trading. Hitachi
also rose, while oil producer Inpex
fell. In Hong Kong, smartphone component makers Sunny Optical
surged, as did casino operators Sands China
and Galaxy Entertainment
. Chip maker SK Hynix
advanced in South Korea while Hyundai Motor
fell. Rio Tinto
rose in Australia, while Westpac Banking