China Stares Jump on Return from Holidays

Markets in Asia were mixed on Monday with investors watching out for developments on the U.S.-China trade situation, as negotiations are set to continue in Beijing later this week.

Markets in Japan were shuttered for holiday. The Japanese yen traded at 109.97 against the U.S. dollar after seeing an earlier high of 109.67.
In Hong Kong, the Hang Seng leaped 197.52 points, or 0.7%, Monday to 28.143.84, with shares of Chinese tech giant Tencent gaining nearly 2%.

Korean markets were marginally in the green, with shares of industry heavyweight Samsung Electronics rising 0.5%

Australian markets faded, with the heavily weighted financial subindex fell 1.2% as shares of the country's so-called Big Four banks declined. Australia and New Zealand Banking Group shed 1.3%, Commonwealth Bank of Australia slipped 1.2%, Westpac fell 1.5% and National Australia Bank declined 1.6%.

The Australian dollar changed hands at $0.7105 U.S. after touching an earlier low of $0.7079.


In China, the CSI 300 took on 59.07 points to 3,306.47

Investors will be watching for developments on the U.S.-China trade front, with a new round of negotiations set to be held in Beijing later this week.

The Wall Street Journal reported Friday that the two countries have not yet put together a draft on the matters they agree or disagree. It comes as both Washington and Beijing are attempting to strike a deal on trade before a key March deadline, following which additional tariffs will be slapped on Chinese imports to the U.S.

U.S. President Donald Trump also said Thursday he will not meet with Chinese President Xi Jinping before that deadline.

In other markets

In Korea, the Kospi index inched up 3.68 points, or 0.2%, to 2,180.73

In Singapore, the Straits Times Index poked up 4.23 points, or 0.1%, to 3,206.27

In Taiwan, the Taiex Index ballooned 71.99 points, or 0.7%, to 10,004.25

In New Zealand, the NZX 50 gained 33.39 points, or 0.4%, to 9,210

In Australia, the ASX 200 slipped 10.61 points, or 0.2%, to 6,060.85