Asian Markets Mixed on Data and Trade Talks

Asian traders were cautious as the Asian and Pacific Rim markets were mostly mixed by the afternoon on Thursday.

Regional traders are monitoring trade comments and headlines. It would seem, yet once again, that a trade deal between the United States and China is apparently stalling.

Also adding to a drop in trader sentiment was weaker than expected economic data out of China.

In Japan, the benchmark Nikkei 225 was down 0.9 percent. In Tokyo, the broader Topix index shed over one percent. Shares of heavyweight Familymart were down over three percent on the day.

Elsewhere in the Asian and Pacific Rim, the Australian ASX 200 was up 0.3 percent by the afternoon hours.

On the mainland, in China, the Shenzhen component was up 0.35 percent. Shares on the Shanghai composite gained 0.4 percent and the smaller Shenzhen composite was up a fraction of a percent.

In corporate news out of China, Tencent reported that yearly profit slumped 13 percent. Tencent stock, trading on the Hang Seng index, fell 2.69 percent. Overall, the Hang Seng index was down 0.9 percent.

Asian Traders Monitor Stalling Trade Talks and Chinese Economic Data

Regional traders in the Pacific were also digesting economic data. Today, retail sales, industrial output and investment data out of China were all weaker than expected.

Traders are monitoring trade talks between China and the United States. These talks, have once again, stalled. China does not want a trade deal that is one sided and that only favors the United States.

This  news comes just a day after President Donald Trump’s speech in New York. President Trump said that the United States was “close” to signing a preliminary trade agreement with China.

The U.S. President also said that he was ready to “substantially” increase tariffs on goods from China if they did not sign a deal.