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Asian markets diverge as US-China talks continue

2019-01-08 07:25 am | Resource: News | No Views : 197

Markets in East Asia and Australia varied on Tuesday as negotiations continued on trade issues affecting the US-China relationship.

The presence of Liu Hu, a top aide to Chinese President Xi Jinping at the start of the meeting with the delegation from Washington, indicated Beijing's "opening up of solutions" to the trade dispute.

Meanwhile, Japan's former Nissan Motors and Mitsubishi Motors Corp chairman Carlos Ghosn denied charges against him in court in Tokyo.

Japanese consumer confidence fell slightly in December

Consumer confidence in Japan fell slightly in December, according to the Office of the Prime Minister in his latest report. The consumer confidence index was at 42.7, down 0.2 points from the previous month, in a survey of 8,400 households.

The desire to buy durable goods was the only component of the index which recorded an increase compared to November at 42.8 or 0.4 higher. At the same time, the level of public earnings decreased by 0.2 to 40.6, while income growth was 0.1 points in December at 21.7, while the employment index reached 45.8 or 0.8 points.

83.2% of respondents expect prices to rise within a year, representing a decrease of 1.3% compared to November. 10.8% of expected prices will remain unchanged, while 4% of households believe prices will fall.

 Ghosn denies accusations of "commendable"

Carlos Ghosn, former president of Nissan Motors, denied the charges against him in the Tokyo District Court, saying it was "baseless and unfounded."

"Unlike the charges made by the prosecutors, I have not received any compensation from Nissan that has not been disclosed, and I have not entered into any binding contract with Nissan for a fixed amount that has not been disclosed," Ghosn said. Acted "honorably, legally and with the knowledge and approval of the appropriate executives within the company to assist in the promotion of the Japanese automaker."

Ghosn was previously removed from the post of President of Mitsubishi Motors and Nissan.

Kim Jong-un travels to China for a four-day visit

South Korean leader Kim Jong-un flew to China late on Monday, South Korea's Yonhap News Agency reported. He will remain in the country until January 10. The official Xinhua news agency said Kim invited him to President Xi Jinping.

Earlier reports claimed that a North Korean train entered China at about 10:15 pm local time. Unknown sources said that "dozens of cars and security officials closed the roads" around the railway station in the Chinese city of Dandong to allow the North Korean train to pass safely.

Asian Indices Trading
  • The Shanghai Composite Index was 0.20% in the red zone at 4:30 am CET,
  • While the Shenzhen Composite Index was flat at 4:46 CET.
  • The Hang Seng Index in Hong Kong rose 0.17% at 4:47 CET.
  • The Nikkei rose 0.36% at 04:48 CET.
  • South Korea's Kospi Index fell 0.08% at 4:27 am CET.
  • The S & P / ASX 200 rose 0.50% in Australia at 04:48 CET.

The greenback was trading 0.07% higher against the yen as it traded at 108.7845 at 4:46 CET.

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