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Asian Markets Rise Despite Conflicting Signals on Progress in Sino-U.S. Trade Talk

Investing.com - Asian markets rose in morning trade on Thursday despite some conflicting signals on the progress in ongoing Sino-U.S. trade talks.


The Shanghai Composite gained 0.3% by 10:30 PM ET (02:30 GMT), while the Shenzhen Component traded 0.3% higher. Hong Kong’s Hang Seng Index rose 0.4%.


Developments on the Sino-U.S. trade war were in major focus this week, as high-level officials resumed in-person negotiations. Some reports said today that China is open to a partial deal with the U.S., if no more tariffs are imposed on Chinese goods.


Citing an unnamed official with direct knowledge of the talks, Bloomberg reported that Beijing would offer purchases of agricultural products in return, but it would not give in on major sticking points.


Bloomberg said the U.S. is now considering rolling out a previously agreed currency pact as part of the partial trade deal. The deal had been agreed earlier this year before talks between the two nations broke down.


However, other reports said that Chinese negotiators are not optimistic about reaching a broad agreement that would end the trade war between the two sides, and that the China delegation is planning to leave Washington on Thursday instead of Friday as previously planned.


Meanwhile, CNBC reported that China is planning to restrict visas for U.S. visitors with ties to anti-China groups.


“This is not something we want to do but we don’t seem to have any choice,” an unnamed source told CNBC.


“The plan has been widely discussed by senior police officers over recent months, but made more likely to be implemented after the Hong Kong protests and the U.S. visa ban on Chinese officials,” the source said.


Japan’s Nikkei 225 climbed 0.4%. Data showed the country’s core machinery orders fell 14.5% in August from a year ago. It was the biggest drop since November 2014, according to the Cabinet Office.


South Korea’s KOSPI returned from a holiday and fell 0.7%.


Down under, Australia’s ASX 200 inched up 0.1%.

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