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Asian Markets Mixed; U.S. Considers Extending Tariffs Exclusions on Chinese Goods

Investing.com - Asian markets were mixed in morning trade on Tuesday. Chinese stocks fell even after the Office of the U.S. Trade Representative (USTR) said Washington is considering extending certain tariff exclusions on $34 billion of Chinese imports.

China’s Shanghai Composite dropped 0.4% by 10:50 PM ET (02:50 GMT), while the Shenzhen Component slipped 0.1%.

The USTR said late last week that China and the U.S. are close to reaching a phase one deal.

Reuters reported that U.S. President Donald Trump saying the U.S. is “ahead of schedule” to sign part of a China trade deal. Earlier reports said leaders from the two nations might officially sign the agreement next month in Chile.

China’s President Xi Jinping will attend the second China International Import Expo in Shanghai on Nov. 5 and is expected to give a keynote speech at the expo.

Hong Kong’s Hang Seng Index traded 0.3% lower after the city’s leader said on Thursday that she expects the Asian financial hub to record negative economic growth for the full year of 2019.

Japan’s Nikkei 225 gained 0.4%. The Bank of Japan sets policy on Thursday, while Governor Haruhiko Kuroda will hold a news conference.

Shares of airliner ANA underperformed following a Nikkei report that said the company is expected a more than 20% drop in profit.

South Korea’s KOSPI slipped 0.2%.

Down under, Australia’s ASX 200 inched up 0.1%.

In the U.S., the Federal Reserve is expected to cut rate for the third time this year when policy makers decide on Wednesday. GDP data are due on the same day.

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