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Asian markets mixed amid growing trade concerns

2019-02-08 07:41 am | Resource: NEWS | No Views : 190


 
The main Asian indexes were mixed on Friday as fears mounted amid a trade dispute between Washington and Beijing. Earlier, US President Donald Trump acknowledged he would not meet Chinese President Xi Jinping before the March 1 deadline. Meanwhile, reports have emerged that Trump is expected to sign an executive order banning the use of Chinese communications equipment in its wireless networks next week.

 Larry Kudlow, director of the National Economic Council, explained the worsening of the pessimistic mood when he said there was still "a great distance" to cover in the trade talks between Washington and Beijing.

South Korea and the United States to sign military cost agreement

South Korea and the United States are expected to sign an agreement on Sunday to determine military and defense costs on the Korean Peninsula, the Yonhap News Agency quoted a source familiar with the matter as saying. The signing ceremony will be held in the South Korean capital and will be attended by chief negotiators Zhang Won Sam and Timothy Bates.

South Korea is due to increase its payments for the US military presence to about $ 890 million in 2019. However, the deal will end by the end of the year, leaving the case open for renegotiation, although the United States demanded a higher payment, from about 1 billion, while Seoul wanted to continue the transaction for longer than five years, according to the report.

The news comes in the wake of previous reports that Seoul agreed to pay about one billion US dollars to US troops to stay in the country after growing concerns that President Donald Trump may decide to withdraw the army as he prepares for his next meeting with North Korean leader Kim Jong. -United nations.

Softbank is moving to invest $ 440 million in OakNorth

Group Vision, a subsidiary of Softbank Group, plans to invest $ 440 million in O'Connor, a British bank offering commercial and property loans to small and medium-sized businesses, the Financial Times reported on Thursday.

The investment, which will be announced on Friday, is expected to increase the company's value to about $ 2.8 billion. It comes just six months after the Bank's financing round, during which the bank raised $ 100 million.

OakNorth was founded in London by entrepreneurs Rishi Khosla and Joel Perlman in 2015. It has a loan loan of about $ 3 billion. In 2016, the first UK bank to host its entire platform on the cloud after working with Amazon Web Services.

Asian stocks close
  • The Nikkei 225 index fell 2.01% at 8:07 CET,
  • South Korea's Kospi Composite Index lost 1.19% at the same time.
  • The Australian Standard & Poor's / ASX 200 was up 1.10% at 8:08 CET,
  • While the Hang Seng Index in Hong Kong rose 0.16% at 8:09 am CET.

Chinese mainland markets are still closed for the Lunar New Year holiday.

The greenback was down 0.07% against the yen, trading against 109.7720 at 8:10 am.


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