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Asia stocks fall amid concerns ‘phase one’ US-China trade deal may not be signed in 2019

Asia stocks fall amid concerns ‘phase one’ US-China trade deal may not be signed in 2019

Asia stocks declined on Thursday following a report that an anticipated “phase one” trade deal between the U.S. and China may not be inked by the end of 2019. Japan’s Nikkei 225 slipped 0.48% to close at 23,038.58, with shares of Tokyo Electron falling 3.44%. The Topix index was 0.1% lower to end its trading day at 1,689.38. In South Korea, the Kospi shed 1.35% to close at 2,096.60 as shares of industry heavyweight Samsung Electronics and SK Hynix fell 1.92% and 2.18%, respectively.

Mainland Chinese stocks declined also ended their trading day lower, with the Shanghai composite down 0.25% to around 2,903.64 and the Shenzhen component shedding 0.35% to 9,774.44. The Shenzhen composite also slipped 0.24% to approximately 1,631.24. Hong Kong’s Hang Seng index declined about 1.5%, as of its final hour of trading, with shares of Chinese tech behemoth Tencent falling 1.85%.

Meanwhile, Australian stocks declined as the S&P/ASX 200 closed 0.74% lower at 6,672.90. Shares of Westpac dropped 1.99%, after Australian Prime Minister Scott Morrison called on the lender’s board to reflect “very deeply” over the future of the firm’s CEO. That decline followed a more than 3% drop on Wednesday after Australia’s anti money-laundering and terrorism financing regulator filed for civil penalty orders against the firm, alleging its “oversight of the banking and designated services provided through its corresponding banking relationships was deficient.”.

Asia stocks fall amid concerns ‘phase one’ US-China trade deal may not be signed in 2019, CNBC, Nov 21
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