Asian markets were mostly higher on Friday when US and Chinese officials started a fresh round of negotiations in Beijing.
Shanghai Composite Index
SHCOMP, + 3.20%
added 0.6% and Hong Kong's Hang Bed
jumped 1.7%. South Korea's Kospi
Japanese benchmark Nikkei 225
NIK, + 0.82%
increased 1%. The country's retail sales dropped slightly in February from a month earlier, preliminary data showed. But industrial output rose 1.4% compared to the January decline of 3.4%. Unemployment hit market expectations at 2.3% in February from 2.5% in the previous month.
Australia's S & P / ASX 200[Α] 25 D + 0.07%
was 0.2%. Shares rose in Taiwan
Y9999, + 0.99%
STI + 0.36%
but fell in Indonesia
JAKIDX, + 0.56%
Among individual shares, SoftBank
9984, + 1.90%
4755, + 1.95%
obtained in Tokyo Trade and China Life Insurance
2628, + 3.69%
0883, + 2.65%
advanced in Hong Kong. Samsung
slipped in Korea while BHP
BHP, + 0.65%
and Rio Tinto
R10, [1.545%] + 1.56%
rose in Australia.
U.S. dealers led by trade representative Robert Lighthizer and state secretary Steven Mnuchin attended a working dinner on Thursday evening with Chinese vice president Liu He, who is expected to travel to Washington next week.
The three of them made a photo of a government's guesthouse before the resumption of the resume on Friday, but did not speak to journalists.
"Investor eyes will be glued to news feeds looking for more detail – rumored or true – evident from the negotiations. This could lead to an abrupt intra-day volatility across the markets," Jingyi Pan of IG said in a market comment.
The news about the negotiations was read as largely positive by the markets. In a speech in Washington on Thursday, the White House financial adviser Larry Kudlow said the US administration was prepared to continue trade negotiations with China for weeks or even months. This was taken as a sign of commitment to reaching an agreement.
On Wall Street, the trades drew a dissuasive message from the trading department. It said that economic growth in the US had fallen sharply in the last three months of 2018 at an annual rate of only 2.2% due to weakness in consumer spending, business investment, government spending and housing.
Most indexes were higher as bond yields rose and financial, technological and industrial stocks climbed. The broad S & P 500 index
SPX, + 0.36%
was 0.4% higher at 2,815.44. Dow Jones Industrial Average
DJIA, + 0.36%
also achieved 0.4% to 25,717.46. The Nasdaq composite
COMP, + 0.34%
rose 0.3% to 7,669.17.
Benchmark U.S. Pat. crude
CLK9, + 0.78%
added 35 cents to $ 59.65 per. Barrel in electronic commerce on the New York Mercantile Exchange. It lost 11 cents to settle at $ 59.30 a. Barrel on Thursday. Burned raw
LCOK9, + 0.32%
used to price international oils, edged up 37 cents to $ 67.47 per. Barrel. The contract shed 14 cents to $ 67.10 per. Barrel in London.
USDJPY, + 0.14%, strengthened to 110.78 yen from 110.63 yen.
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