Asia Stocks Mixed on Trade News

Asia Pacific stocks were mixed on Friday as investors watched for developments on the U.S.-China trade front.

The Nikkei 225 lost 169.34 points, or 0.8%, to 21,878.90, as shares of index heavyweight and conglomerate Softbank Group fell 2%

Shares of Apple supplier Japan Display plummeted 10.5% after the company said Thursday Chinese investment firm Harvest Group would withdraw from a bailout.

Japan’s Tokyo Electron dropped 1.9% while Renasas advanced 1.1%.

The Japanese yen traded at 107.8 per U.S. dollar after weakening from levels below 107.5 yesterday.

In Hong Kong, the Hang Seng Index slid 87.12 points, or 0.3%, to 25,954.81

Over in South Korea, Samsung Electronics slipped 1.6% and SK Hynix fell 2.28%. Taiwan Semiconductor Manufacturing Company shares in Taipei rose 1.5%.

The Australian dollar changed hands at $0.676 following a decline from levels above $0.678 seen earlier in the trading week.

CHINA

In China, the CSI 300 regained 11.51 points, or 0.3%, to 3,852.65

Trade negotiations between the U.S. and China are set to resume on October 10 in Washington, D.C., according to media reports. Chinese Vice Premier Liu He will be representing the delegation from Beijing.

China’s industrial profits for August dropped 2% from a year earlier, according to the country’s National Bureau of Statistics. That followed a 2.6% gain in July and a 3.1% in June.

In other markets

In Korea, the Kospi index reversed 24.59 points, or 1.2%, to 2,049.93

In Taiwan, the Taiex Index tumbled 42.31 points, or 0.4%, to 10,829.68

In Singapore, the Straits Times Index doffed 0.18 points to 3,125.63

In New Zealand, the NZX 50 gained 13.73 points, or 0.1%, to 10,836.50

In Australia, the ASX 200 regrouped 38.54 points, or 0.6%, to 6,616.12