Asian markets had mixed reactions to news that China and the U.S. announced they were finally set to sign off on a phase one trade agreement.
In Japan, the Nikkei 225 docked 70.75 points, or 0.3%, to 23,952.35. Autos fell, reversing gains they made last week on the back of Brexit optimism.
The Japanese yen traded at 109.38 against the U.S. dollar, weakening from 109.27 the day before.
In Hong Kong, the Hang Seng Index let go of 179.67 points, or 0.7%, to 27,508.09.
Shares of Apple suppliers were watched for any optimism on that development.
Over in Hong Kong, Sunny Optical soared 2.66%, while AAC Tech jumped 1.51%. South Korea’s LG Display bounced 2.51%.
Taiwan’s Hon Hai Precision Industry, better known as Foxconn and Apple’s largest manufacturer, was up 0.66%, while Pegatron pared gains made in the morning.
Australian markets climbed, buoyed by banks and major miners.
The Australian dollar changed hands at $0.6874, weakening from levels above $0.693.
CHINA
Mainland Chinese stocks jumped at the close on Monday afternoon, as data showed that the country’s industrial output and retail sales rose more than expected in November.
In Shanghai, the CSI 300 gained 19.33 points, or 0.5%, to 3,987.55
U.S. Trade Representative Robert Lighthizer said on Sunday that the phase one U.S.-China trade deal reached on Friday is “totally done,” and it will nearly double U.S. exports to China over the next two years.
U.S. and Chinese officials announced on Friday that the countries had reached a phase one agreement after a contentious 18-month trade war. China agreed to billions of dollars in agricultural purchases from the U.S., while U.S. President Donald Trump vowed to not pursue a new round of tariffs that had been scheduled for Sunday. The two major economies plan to sign the partial accord in the first week of January.
In other markets
In Taiwan, the Taiex moved higher 12.04 points, or 0.1%, to 11,939.77
In Korea, the Kospi doffed 2.1 points, or 0.1%, to 2,168.15
In Singapore, the Straits Times Index deleted 7.96 points, or 0.3%, to 3,206.09
In New Zealand, the NZX drooped 14.76 points, or 0.1%, to 11,226.83
In Australia, the ASX 200 zoomed 110.04 points, or 1.6%, to 6,849.71
