© Reuters.

Investing.com – Asian equities rose in morning trade on Tuesday as traders mulled U.S. President Donald Trump’s comments that said Washington is not ready to make a trade deal with China.

China’s and the gained 0.6% and 0.3% respectively by 10:30 PM ET (02:30 GMT). Hong Kong’s also rose 0.3%.

Citing people familiar with the matter, Bloomberg reported that e-commerce giant Alibaba Group Holdings Ltd ADR (NYSE:) is considering a potential that could raise $20 billion after its record-breaking 2014 New York IPO.

Japan’s rose 0.4%. South Korea’s was trading near flat.

Down under, Australia’s climbed 0.6%.

The gain in Asian stocks came even after Trump said the U.S. is “not ready to make a deal” with China.

“I think they probably wish they made the deal that they had on the table before they tried to renegotiate it,” Trump said Monday at a joint press conference in Tokyo. “They would like to make a deal. We’re not ready to make a deal.”

Trump said American tariffs on Chinese goods “could go up very, very substantially, very easily.”

The President added that he thinks the two sides could eventually reach “a great trade deal” sometime in the future.

“Because I don’t believe that China can continue to pay these, really, hundreds of billions of dollars in tariffs. I don’t believe they can do that,” said Trump.

Trump unexpectedly raised tariffs on $200 billion worth of Chinese goods earlier this month.

Guo Shuqing, head of China’s banking and insurance regulator, said higher tariffs will have a “very limited” impact (on China’s economy), and would hurt the U.S. about as much.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link