Asian Stock Markets Fall, US-China Trade Talks Ongoing

Asian stock markets fall in the afternoon trade on Friday, as investors are waiting on US-China trade talks progress.

In China, the CSI 300 index slipped 0.49 percent or 18.40 points to 3,774.60. The Shanghai Composite fell 0.32 percent or 9.83 points to 3,091.03 compared to its previous close at 3,100.86, and the smaller Shenzhen index also fell 0.31 percent or 32.43 points to 10,426.19, compared to its last close at 10.458.62.

The biggest gainers of the Shanghai index were the Shanghai Laimu Electronics Co. Ltd., it rose 10.02 percent or 1.85 points to 20.31; the Jiangyin Jianghua Microelectronics Materials Co. Ltd. ended at 44.40, rising 10.01 percent or 4.04 points; and the GuangDong Super Telecom Co. Ltd., surging 10 percent or 2.90 points to 31.94.

On the other hand, the Aurora Optoelectronics Co. Ltd. slipped 10 percent or 1.74 points to trade at 15.66, the Zhende Medical Co Ltd. dropped 3.35 percent or 2.27 points to 65.52, and the Huayi Electric Co. Ltd. fell 0.77 percent or 0.080 points to close at 10.25.

Hong Kong’s Hang Seng index declined by 1.33 percent or 404.09 points at 29,192.94. The financial sectors weighed down the index.

Going to South Korea, declines in the automobile and technology sectors affected the overall stock exchange. The KOSPI index ended at 2,461.38, it fell 1.04 percent or 25.87 points, compared to its previous close at 2,487.25.

Japan’s stock markets are closed for the celebration of Golden Week holidays which will end on Sunday.

Australia’s S&P/ASX 200 index closed at 6,062.90, down 0.58 percent or 35.40 points compared to its previous close at 6,098.30.

US-China Talks Underway

Trade talks between China and the US are on its second and last day.

Steve Mnuchin, US Treasury Secretary, said that the trade delegation he is leading in China has been having a ‘very good conversation’.

The discussions, led by Mnuchin and Chinese Vice Premier Liu He, is mainly focused on changing China’s economic policies, and expected to cover a wide range of US complaints about China’s trade practices.

"Thrilled to be here. Thank you," Mnuchin, at his hotel, answered in a report when asked if he expected progress of the talks.

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