Stocks in Asia were mixed on Friday following days of declines this week amid U.S.-China trade confusion.
In Japan, the Nikkei 225 gained 74.3 points, or 0.3%, to close out the week at 23,112.88. Shares of gaming firm Nintendo, however, fell 3.5% after Morgan Stanley downgraded the stock to equal-weight from overweight.
The Japanese yen traded at 108.56 per U.S. dollar after strengthening from levels above 108.9 seen earlier in the trading week.
In Hong Kong, the Hang Seng Index recovered 128.2 points, or 0.5%, to 26,595.08,
Australian markets made headway to finish the week. Shares of Westpac declined 1.6% after Goldman Sachs cut its price target for the stock by 10%. The lender’s stock has slipped in the past few days.
Australia’s anti money-laundering and terrorism financing regulator filed for civil penalty orders against the firm, alleging its “oversight of the banking and designated services provided through its corresponding banking relationships was deficient.”
The Australian dollar changed hands at $0.6785 after declining from highs around $0.681 yesterday.
CHINA
In Shanghai, the CSI 300 lost 39.61 points, or 1%, to 3,849.99
Markets have had a rocky trading week amid mixed headlines on U.S.-China trade.
The Wall Street Journal reported Thursday that Chinese Vice Premier Liu He, during a phone call thought to have been made late last week, had invited U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin to Beijing to sit down for further talks.
It was not clear whether U.S. negotiators had accepted Liu’s invitation. However, the Journal’s report said that U.S. trade officials were willing to meet with their Chinese counterparts. Meanwhile, the South China Morning Post said both countries are on the “doorstep” of reaching a deal, citing a source close to the Trump administration.
In other markets
In Taiwan, the Taiex inched higher 8.53 points, or 0.1%, to 11,566.80
In Korea, the Kospi recouped 5.36 points, or 0.3%, to 2,101.96
In Singapore, the Straits Times Index hiked 33.44 points, or 1.1%, to 3,225.65
In New Zealand, the NZX dipped 11.86 points, or 0.1%, to 10,946.30
In Australia, the ASX 200 moved positive 36.87 points, or 0.6%, to 6,709.78
