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