Major stock markets in Asia closed mixed on Wednesday, as investors awaited the start of U.S.-China trade talks later in the day stateside.
In Japan, the Nikkei 225 fell 108.1 points, or 0.5%, to 20,556.54. The Japanese yen, viewed as a safe-haven currency, traded at 109.29 U.S. against the dollar after seeing an earlier low of 109.44.
In Hong Kong, the Hang Seng Index recovered 111.17 points, or 0.4%, to 27,642.85, as shares of Chinese tech giant Tencent declined 0.3%
South Korea n the other hand, advanced as shares of LG Display dropped 3.7%, after the company said its panel shipments for the first quarter were expected to decrease due to seasonally weak demand.
Australian markets moved up marginally, as the materials subindex rose 2.1%, with shares of Australia’s major miners gaining. Rio Tinto jumped 4.5%, Fortescue Metals Group soared 7.8% and BHP Billiton advanced 2.6%
The moves Down Under came after the country’s headline consumer price index rose above expectations, though core inflation remained below the central bank’s target.
Following that, the Australian dollar was at $0.7191 U.S. after seeing an earlier low of $0.7147.
CHINA
In Shanghai, the CSI 300 slipped 25.49 points, or 0.8%, to 3,174.38
Investors are watching out for developments on the U.S.-China trade front, with high level negotiations set to begin later stateside.
Chinese Vice Premier Liu He is set to meet U.S. officials on Wednesday and Thursday, hot on the heels of Washington leveling sweeping charges against Beijing’s telecommunications giant Huawei.
Market participants fear the jolt to Huawei could undermine the chances of the world’s two largest economies reaching a comprehensive trade deal.
In other markets
In Singapore, the Straits Times Index dropped 13.31 points, or 0.4%, to 3,174.38
In Korea, the Kospi index gained 22.84 points, or 1.1%, to 2,206.20
In Taiwan, the Taiex index eked upward 0.67 points to 9,932.26
In New Zealand, the NZX 50 toppled 80.86 points, or 0.9%, to 8,925.52
In Australia, the ASX 200 gained 12.53 points, or 0.2%, 5,886.70
