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Stocks in Asia traded mixed as investors look for further developments on U.S.-China trade.
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Loading...Stocks in Asia traded mixed on Monday morning as investors look for further developments on U.S.-China trade.
The moves came amid ongoing turmoil in Hong Kong, as the embattled city continues to be rocked by civil unrest that has now lasted for months. Hong Kong police warned Monday live bullets could be fired, as tensions escalate in a standoff with protesters, Reuters reported.
Traders will continue to monitor developments on U.S.-China trade. Chinese Vice Premier Liu He had a phone call Saturday morning with Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer regarding a “phase-one” trade deal, Chinese state media outlet Xinhua reported over the weekend.
The two sides had “constructive discussions” about “each other’s core concerns” and agreed to remain in close contact, Xinhua reported. The call came at the request of Mnuchin and Lighthizer, according to Xinhua.
US‑China trade and technology negotiations will remain front of mind this week. So far, a ‘phase one’ trade deal remains elusive. Despite positive comments from US officials, the US and China appear unable to agree on core components of the deal.
There is a risk that some of the recent optimism around tariffs begins to recede,” the strategists said. “The US is still scheduled to lift tariffs by 15% on US$156 (billion) of Chinese imports on 15 December. Removal of existing tariffs appears to be one of the key sticking points in current negotiations.
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