Asian markets were mixed in early trading Thursday, as the Fed left interest rates intact and the latest round of U.S-China trade talks concluded.
Stocks on Wall Street fell Wednesday after Fed Chairman Jerome Powell sounded upbeat about the U.S. economy. “I see us on a good path,” he said.
In Beijing, a U.S. delegation led by U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin said progress had been made toward a trade deal with China, though hurdles remain. The two sides will meet again for negotiations next week in Washington. Sources told CNBC that a deal remains “possible” by next Friday.
Hong Kong’s Hang Seng Index HSI, +0.63% rose 0.6%, while the Shanghai Composite SHCOMP, +0.52% gained 0.5%. South Korea’s Kospi SEU, +0.44% advanced 0.4%, while benchmark indexes in Taiwan Y9999, +0.31% , Singapore STI, -0.53% and Indonesia JAKIDX, +0.46% were mixed. Australia’s S&P/ASX 200 XJO, -0.71% slid 0.5%. Japan’s Nikkei remained closed for a 10-day holiday to commemorate the succession of new Emperor Naruhito.
Among individual stocks, insurer AIA Group 1299, +3.31% rose in Hong Kong, along with Apple supplier AAC Technologies 2018, +2.76% and casino operator Galaxy 0027, +1.19% . SK Hynix 000660, +2.28% and LG Electronics 066570, +1.32% rose in South Korea. BHP BHP, -1.33% and Beach Energy BPT, -4.17% fell in Australia.
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