Asian Stocks Mixed; Trump Says New Round of Sino-U.S. Trade Talk Has Begun

Investing.com - Asian stocks were mixed in morning trade on Tuesday. Chinese stocks fell even after a trade truce with the U.S.

China’s Shanghai Composite was down 0.2% by 10:30 PM ET (02:30 GMT), while the Shenzhen Component was little changed.

U.S. President Donald Trump said that he would hold off slapping an additional $300 billion in tariffs on Chinese goods as the two countries resumed trade negotiations.

“It has already begun. They are speaking very much on the phone,” Trump told reporters at the White House on Monday, referring to the two nations’ trade negotiators. “It actually began before our meeting (at the G-20 summit),” he added.

However, reports that the U.S. expanded a list of European products that may get hit with tariffs once again raised concerns that global trade tension has yet to go away and dampened investor sentiment.

The Hang Seng Index gained 1.4%.On Monday night, Hong Kong's protesters storm the city’s legislative chamber in an escalation of demonstrations against the China-appointed government.

Earlier this year, the city’s chief executive Carrie Lam and her government pushed legislation that would for the first time allow extraditions to China. Her decision sparked the worst political crisis since the 1997 as multiple parties expressed concerns over the proposed bill.

Casino stocks outperformed today as data showed a jump in gaming revenue in June.

Gross gaming revenue in Macau rose 5.9% last month from the year-ago period, the Macau gaming authority reported, which was well above expectations.

Wynn Macau Ltd (HK:1128) jumped 5.5%, Galaxy Entertainment Group Ltd (HK:0027) surged 6.2%, while Sands China Ltd (HK:1928) climbed 6.3%.

Meanwhile, Japan’s Nikkei 225 inched up 0.1%. South Korea’s KOSPI was down 0.3%.

Australia’s ASX 200 saw modest gains before the Reserve Bank of Australia meets to set policy later in the day.

Disappointing manufacturing data from the U.S. was cited as headwind for global stocks.

The U.S. jobs report is due Friday and is projected to show nonfarm payrolls rose by 164,000 in June, rebounding from 75,000 the month prior.

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