Asian markets mixed after trade talks, Aussie dollar pares losses

Hong Kong

Asian markets were mixed on Friday as China-US trade talks wrapped up with little progress being made, while the dollar held up ahead of a key speech by the head of the Federal Reserve.
The Australian dollar pared losses and stocks inched up after the governing Liberal Party elected a new business-friendly prime minister, ending a period of political uncertainty.
Officials from Beijing and Washington finished a two-day meeting that saw what the Chinese side described as “constructive and frank” discussions on trade.
The low-level negotiations were the first since the world’s top economies began exchanging tit-for-tat tariffs in July and came as they imposed fresh measures on billions of dollars more in goods.
“The two sides will keep contact regarding future plans,” China’s Commerce Ministry said in a brief statement, while the White House said the talks concluded after officials “exchanged views on how to achieve fairness, balance and reciprocity in the economic relationship”.—AFP

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