Asian markets mixed after news on trade deal

Equities on Asian markets traded mixed on Friday as it seems the United States and China will sign the so-called phase one trade deal.

1. Asian markets mixed after news on trade deal

Asian markets mixed after news on trade deal

The US President Donald Trump said, speaking at his campaign rally in Toledo, Ohio, that the signing of a deal with China will happen January 15. Also, the US House of Representatives gave its approval to a resolution that will limit Trump’s possibility to make a one-sided decision about starting a war under the 1973 War Powers Act.

Meanwhile, earlier in the day, Beijing announced that it will permit foreign companies to participate in oil and gas exploration and production in the country, as opposed to only state-run energy companies as was the case up to now.

The Nikkei grew 0.23% at 4:30 am CET while the Kospi surged 0.32% at the same time. Meanwhile, Chinese markets were down as the Shanghai Composite slid 0.22% at 4:16 am CET and the Shenzhen Composite decreased by 0.22% at 4:30 am CET. Hang Seng was up by 0.08% at 4:33 am CET. The S&P/ASX 200 in Australia rose 0.77% at 4:34 am CET.

The dollar was flat against the yen to go for 109.5285 at 4:34 am CET.

Asian markets mixed after news on trade deal China will sign the so-called phase one trade deal Asian markets traded mixed on Friday