Asian Markets Mixed; Hong Kong Unrest Continues
Investing.com
Published Nov 11, 2019 11:07PM ET
Investing.com - Asian markets were mixed in morning trade on Tuesday. Hong Kong stocks struggled for direction amid continuing protests in the city.
The Hang Seng Index were little changed at 26,945.00 by 10:48 PM ET (02:48 GMT), up 0.04%. Violence in Hong Kong showed signs of escalation this week as one protester was shot by police while another man was set on fire after being doused with what police described as “flammable liquid.”
Several sub-way lines and other public transportation services were disrupted. Hong Kong Chief Executive Carrie Lam on Tuesday condemned the disruption to commuters and said it is “wishful thinking” to believe the government will yield to protesters’ demands.
China’s Shanghai Composite dropped 0.4%, while the Shenzhen Component was down 1.1%. Markets are paying close attention to the Sino-U.S. trade developments after U.S. President Donald Trump described reports that said the two countries agreed to roll back tariffs on each others’ goods as “incorrect.”
That conflicted with comments from the Chinese commerce ministry, which said both sides had agreed to cancel existing levies in phases.
“Markets have been skittish,” said Matt Forester, chief investment officer at BNY Mellon’s Lockwood Advisors in a Bloomberg report. “We will need more concrete information about the structure and timing of any kind of final trade arrangement, but in the meantime we are operating on scraps of information.”
Japan’s Nikkei 225 inched up 0.2%. Automaker Nissan Motor Co., Ltd. (T:7201) will report earnings later in the day.
South Korea’s KOSPI also climbed 0.2%.
Down under, Australia’s S&P/ASX 200 fell 0.5%.
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