Asian Markets Mixed; Sino-U.S. Trade Talks Back in Focus 

Investing.com – Asian markets were mixed in morning trade on Friday. The U.S.-China trade war was back in focus after U.S. Vice President Mike Pence said Washington “does not seek confrontation with China,” nor does it want to “contain China’s development.”

However, Pence criticized Beijing’s building of a “surveillance state,” and “increasingly provocative” military action, as well as its handling of the protests in Hong Kong.

“Beijing has increased its interventions in Hong Kong and engaged in actions that curtail the rights and liberties that Hong Kong’s people were guaranteed through a binding international agreement,” Pence said Thursday in a speech at the Wilson Center in Washington.

Addressing the demonstrators, Pence said: “We stand with you.”

China’s Shanghai Composite and the both fell 0.5% by 10:45 PM ET (02:45 GMT). Hong Kong’s Hang Seng Index was also down 0.5%.

Earlier reports said China and the U.S. reached a “phase one” trade deal, and that China’s spending on U.S. farm goods will increased to $40 billion to $50 billion over two years under the new deal.

China would also agree to certain intellectual-property measures and concessions related to financial services and currency. In exchange, the U.S. delayed a tariff increase scheduled for this month on about $250 billion of Chinese imports.

The leaders from the two sides may officially sign the partial agreement next month, reports suggested.

Japan’s Nikkei 225 was little changed at 22,745.50. South Korea’s KOSPI was unchanged at 2,085.10.

Down under, Australia’s ASX 200 bucked the downward trend and gained 0.7%.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.