Asian Traders Cautious over the Trade Deal

Asian and Pacific Rim traders were showing caution during the Asian trade session on Tuesday. Regional traders want more details surrounding President Donald Trump’s so-called Phase One trade deal between the United States and China.

In Australia, the S&P ASX 200 was oscillating between fractional gains and the flat line during the trade session on Tuesday.

In South Korea, the Kospi composite index was up 0.15 percent.

The Asian markets in Japan reopened after a public holiday on Monday. The benchmark Nikkei 225 added 1.76 percent by lunchtime and the broader Topix index, in Tokyo, was up over 1.7 percent.

In economic news, out of China, thanks to swine fever, pork prices for the month of September jumped 69 percent. The nation’s consumer price index, for September, was up three percent and the producer price index shed 1.2 percent.

The mainland markets, in China were lower by lunchtime. The Shanghai composite lost 0.4 percent. The Shenzhen composite fell 0.6 percent and the Shenzhen component was down 0.61 percent.

In Hong Kong, the benchmark equity exchange, the Hang Seng index was near the flat line.

Asian Traders choose Caution over the Trade Deal

The financial markets originally welcomed news of the completion of a “Phase One “of a trade deal between China and the United States. However, lack of details are unnerving traders as they have been down this road in the past.

China wants more talks as soon as the end of the month. This was announced earlier in the trading session.

They want to hammer out the details of this Phase One deal and before China’s President, Xi Jinping agrees to sign it.