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Asian Stocks Mixed; Trade Talks Remain in Focus

Investing.com - Asian stocks were mixed in morning trade on Wednesday as traders remained cautious amid worries that the trade war between the U.S. and China could become protracted.

China’s Shanghai Composite edged up 0.1% by 10:30 PM ET (02:30 GMT), while the Shenzhen Component slipped 0.2%. Hong Kong’s Hang Seng Index was up 0.6%.

Overnight, Wall Street ended higher after the U.S. Commerce Department said it would temporarily lift restrictions on Chinese telecom giant Huawei.

Tensions between the U.S. and China remained high despite the move, after Cui Tiankai, Chinese ambassador to the U.S., said in an interview with Fox News that Washington “changes its mind so often” in trade talks.

“If we review the process of trade talks between us over the last year or so, it is quite clear it is the U.S. side that, more than once, changed its mind overnight, and broke the tentative deal already reached,” said Cui, adding that the “door is still open” for further talks.

He also said U.S. sanctions on Huawei “are without any foundation and evidence” and are “politically motivated.”

Japan’s Nikkei 225 rose 0.4% as data showed a pickup in business sentiment for the first time in the past seven months. South Korea’s KOSPI was little changed at 2,060.28.

Down under, Australia’s ASX 200 traded 0.1% lower.


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