Asia Markets: Asian markets mixed as doubts emerge over trade deal

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Asian markets were mixed in early trading Tuesday, as investors grew wary as they waited for more details about last week’s agreement for a partial trade deal between the U.S. and China.

Doubts emerged Monday amid reports that Chinese officials wanted more talks before signing the so-called “phase one” deal. U.S. tariff hikes on about $160 billion in Chinese goods, scheduled to take effect in December, are apparently still on track, although tariff hikes on $250 billion of Chinese goods that were to take effect this week were postponed. A more comprehensive trade deal will come in three phases, President Donald Trump said, with the mode divisive issues to be tackled at a later date.

Japan’s Nikkei NIK, +1.72%   surged 1.7% as traders returned from a holiday Monday. Hong Kong’s Hang Seng Index HSI, -0.02%   was about flat, while the Shanghai Composite SHCOMP, -0.59%   slipped 0.5% and the Shenzhen Composite 399106, -1.10%   dipped 1%. South Korea’s Kospi 180721, +0.23%   edged up 0.2%, and benchmark indexes in Taiwan Y9999, +0.45%  , Singapore STI, +0.05%  , Malaysia FBMKLCI, -0.14%   and Indonesia JAKIDX, -0.10%   were mostly up. Australia’s S&P/ASX 200 XJO, +0.02%   inched down 0.1%.

Among individual stocks, SoftBank 9984, +3.01%   gained in Tokyo trading, along with Toyota 7203, +1.11%   and Fast Retailing 9983, +1.99%  . In Hong Kong, China Resources Land 1109, +0.85%   rose while CNOOC 883, -1.34%   and WH Group 288, -1.30%   declined. Taiwan Semiconductor 2330, +1.72%   rose in Taiwan, while Beach Energy BPT, -1.87%   and BHP BHP, -1.42%   fell in Australia.