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Asian stocks mixed amid trade developments between US and China

2019-11-08 06:43 am | Resource: News | No Views : 19

Asian stocks mixed amid trade developments between the US and China

Stocks were mixed in Asia on Friday, as investors watched recent developments in US-China trade negotiations. Although China posted better than expected trade balance figures, this was not enough for all indicators to become green. Also, Assistant US President Donald Trump and Trade and Manufacturing Policy Director Peter Navarro said that "there is no agreement at this time to remove any of the tariffs as a condition of the first phase deal."

China posted better-than-expected trade balance figures in October

China's General Administration of Customs released its trade balance report for October on Friday. China's trade surplus against the United States from January to October was $ 247.74 billion, while the trade surplus against the United States in October was $ 26.42 billion. The trade balance with the US was positive at $ 42.81 billion, which is also better than market watchers expected amid the Beijing-Washington trade war.

China's exports fell 0.9% year on year in dollars. That's better than expected 3.9%. Imports fell 6.4% from last year in October.

 Beijing has agreed with Washington to raise existing trade tariffs in intervals, the Ministry of Commerce said on Thursday. However, US Assistant President Donald Trump and Director of Trade and Manufacturing Policy Peter Navarro claimed that "there is no agreement at this time to remove any of the tariffs as a condition of the first phase deal," and this "only" person who can decide that President Trump.

Asian shares trading
  • The Nikkei 225 rose 0.12% at 4:54 CET. In mainland China.
  • The Shenzhen Composite rose 0.86% at 4:46 am CET.
  • The Shanghai Composite rose 0.35% at 4:30 am CET.
  • South Korea's KOSPI fell 0.20% at 4:55 am CET.
  • Australia's S & P / ASX 200 fell 0.14% at 4:55 am CET.
  • The Hang Seng Index fell 0; 43% at 4:55 am CET.

The dollar was steady against the yen, trading at 109.2230 at 4:57 CET.

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