Asia report: Markets mixed as investors await outcome of trade talks

Markets in Asia finished in a mixed state on Tuesday, with investors holding their breath for news from the two-day trade discussions between Beijing and Washington.

In Japan, the Nikkei 225 was up 0.82% at 20,204.04, as the yen weakened 0.06% against the dollar to last trade at JPY 108.79.

The broader Topix index was ahead 0.39% in Tokyo, to finish at 1,518.43.

Car manufacturer Nissan reversed earlier losses to finish 0.21% higher, as former chairman Carlos Ghosn denied allegations of financial misconduct in his first public appearance since his arrest in November.

On the mainland, the Shanghai Composite slipped 0.26% to 2,526.46, and the smaller, technology-heavy Shenzhen Composite lost 0.12% to 1,299.89.

Investors were waiting to hear of developments in the current round of trade talks between the US and China, which began on Monday and were due to conclude late on Tuesday in Beijing.

South Korea’s Kospi was down 0.58% at 2,025.27, while the Hang Seng Index in Hong Kong added 0.15% to close at 25,875.45.

Samsung Electronics was the big news in Seoul, as the technology giant slid 1.68% after its estimates fourth quarter earnings missed analyst expectations by a long margin.

Its blue-chip tech colleague SK Hynix was on the front foot, however, rising 0.85%.

Oil prices were higher as the region went to bed, with Brent crude last up 1.33% at $58.10 per barrel and West Texas Intermediate advancing 1.38% to $49.20.

In Australia, the S&P/ASX 200 was 0.69% higher at 5,722.40, with almost all sectors in the green and the hefty financials subindex rising 0.77%.

Of the big four banks, Australia and New Zealand Banking Group was up 1.1%, Commonwealth Bank of Australia fell 0.14%, National Australia Bank added 0.91%, and Westpac Banking Corporation was 1.19% higher.

Across the Tasman Sea, New Zealand’s S&P/NZX 50 was up 0.2% at 8,821.15, led higher once again by payment technology provider Pushpay, which was 0.6% higher.

Both of the down under dollars were weaker on the greenback, with the Aussie last behind 0.18% at AUD 1.4015, and the Kiwi retreating 0.47% to NZD 1.4877.