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Asian Markets Mixed Amid Potential Delay in Sino-U.S. Deal

Investing.com - Asian markets were mixed in morning trade on Thursday amid reports that the signing of a phase-one trade deal between China and the U.S. may be delayed until December.

China’s Shanghai Composite slipped 0.1% by 10:15 PM ET (02:15 GMT), while the Shenzhen Component gained 0.6%.

Citing an unnamed senior administration official, CNBC said the goal is to reach an agreement by Nov. 16, but it is not clear if that timeline could be delivered as the two countries have yet to complete the negotiations.

“The first order of business is to complete the negotiations,” this official said, noting that the potential venue was just one element of the discussions.

Bloomberg said two U.S. locations have been ruled out for a meeting between U.S. President Donald Trump and Chinese leader Xi Jinping.

White House deputy press secretary Judd Deere said “negotiations are continuing and progress is being made on the text of the phase-one agreement. We will let you know when we have an announcement on a signing location.”

Elsewhere in Asia, Hong Kong’s Hang Seng Index dropped 0.4%.

Japan’s Nikkei 225 traded 0.2% lower. Softbank Group Corp. (T:9984) plunged more than 4% after reporting a $6.5 billion quarterly loss.

South Korea’s KOSPI slipped 0.1%.

Down under, Australia’s S&P/ASX 200 climbed 0.8%.

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