Asian markets mostly down


Hong Kong

Asian markets were broadly lower Friday as investors took their foot off the pedal after another healthy week, with eyes fixated on the next move in the China-US trade talks.
News out of Beijing that it had agreed a plan with the US to start rolling back tariffs if negotiations progress fired a rally in late business on Thursday, and helped the Dow and S&P 500 to more records.
The announcement fanned hopes the world’s economic superpowers—who are currently finalising a mini trade pact as part of a wider deal—can resolve their long-running tariffs war that has hobbled the global growth outlook.
It also eased worries about the negotiations caused by reports that a hoped-for signing ceremony this month between Donald Trump and Xi Jinping could be delayed until December.
“The elevation of discussion from a trade truce to a possible tariff rollback is important and suggests both China and the US have come under pressure to seal a deal,” said National Australia Bank’s Tapas Strickland, in a note.
But dealers were unable to carry the baton further in Asia after the White House failed to comment on the Chinese claims, while a report said there was some opposition within the administration to such a move.—AFP

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