Major markets in Asia were subdued in Monday trade even amid greater optimism for U.S.-China relations.
In Japan, the Nikkei 225 regained 4.48 points to 23,821.11.
The Japanese yen traded at 109.39 against the U.S. dollar, a touch weaker from levels above 109.2 last week.
In Hong Kong, the Hang Seng Index gained 35.06 points, or 0.1%, to 27,906.41.
Australian stocks went south as major miners declined. Rio Tinto was down 1.8%, and Fortescue Metals declined 1.2%. BHP Group fell 1.3%. Gold and oil stocks also saw declines.
The Australian dollar last changed hands at $0.6908, strengthening from an earlier low of 0.6886.
CHINA
In Shanghai, the CSI 300 slid 50.15 points, or 1.3%, to 3,967.10
China on Monday said it will lower import tariffs on over 850 products from Jan.1, including frozen pork, as well as some information technology products starting July 1.
Trade optimism overall boosted sentiment as U.S. President Donald Trump on Friday said he had "a very good talk" with China’s leader Xi Jinping about the so-called phase one trade deal they struck in mid-December. That indicated more progress has been made after they reached the initial agreement.
The president said in a tweet that China has started “large scale” purchases of U.S. agricultural products, and a formal deal signing is being arranged. On Saturday, he said both countries would “very shortly” sign the deal.
Meanwhile, China’s state-backed semiconductor fund over the weekend announced plans to reduce holdings in some tech firms, according to a Reuters report. The state fund planned to cut its stakes in Gigadevice Semiconductor, chipmaker Shenzhen Goodix Technology and Hunan Goke Microelectronics by about one percentage point each, according to those companies’ statements.
In other markets
In Taiwan, the Taiex picked up 63.15 points, or 0.5%, to 12,022.23
In Korea, the Kospi deleted 0.47 points to 2,203.71
In Singapore, the Straits Times Index inched up 1.61 points, or 0.1%, to 3,214
In New Zealand, the NZX jumped 64.94 points, or 0.6%, to 11,547.23
In Australia, the ASX 200 moved lower 31.18 points, or 0.5%, to 6,785.14
