Shares in Asia were mixed on Thursday as investors watched ongoing negotiations between the U.S. and China, with the two economic powerhouses reportedly closer to striking a deal to end a protracted trade dispute.
The Nikkei 225 gained 11.74 points, or 0.1%, to 21,713.21
The Japanese yen traded at 111.37 against the U.S. dollar after seeing an earlier low of 111.51.
The Hang Seng Index erased 50.07 points, or 0.2%, to 29,936.32.
Shares of Apple supplier Japan Display soared 8.3% by the time of market close, following a report that the company would supply organic light-emitting diode (OLED) screens for the Apple Watch later this year.
The supply deal would mark Japan Display's foray into the OLED display market, Reuters reported, citing two sources familiar with the matter. The company currently supplies liquid crystal display screens for the iPhone XR.
Korean markets gained as shares of chipmaker SK Hynix dropped 1.9%.
Australian markets declined, with the energy sub-index dropping 1.9% as shares of oil companies fell. Santos shed 2.2%, Beach Energy dropped 4.3% and Woodside Petroleum slipped 2.1%.
The trade-sensitive Australian dollar was at $0.7116 U.S. after seeing levels above $0.70 last week.
CHINA
The CSI 300 index added 40.07 points, or 1%, to 4,062.23
High-level trade negotiations between China and the U.S. resumed on Wednesday in Washington. Hopes were high that both countries were closer to a deal, with U.S. President Donald Trump planning to meet with Chinese Vice Premier Liu He on Thursday in Washington.
White House economic advisor Larry Kudlow told reporters Wednesday that China has acknowledged for the first time that the United States has legitimate gripes about IP theft, forced technology transfer and cyber hacking.
In other markets
Markets in Taiwan were shuttered for holiday
In Singapore, the Straits Times Index picked up 4.94 points, or 0.2%, to 3,316.21
Korea’s Kospi Index moved north 3.26 points, or 0.2%, to 2,206.53
In New Zealand, the NZX 50 dropped 46.66 points, or 0.5%, to 9,892.60
In Australia, the ASX 200 sagged 52.25 points, or 0.8%, to 6,232.80
