Asian markets cool off as investors await Trump-Xi meeting

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Asia-Pacific stock markets cooled in early trading Tuesday as the previous day’s global gains appear to have stalled ahead of a meeting between President Donald Trump and China’s President Xi Jinping.

Japan’s Nikkei














NIK, +0.43%












  was last up about 0.1%, sliding back from early session highs. Panasonic














6752, +2.47%












  was up 2.2% and Renesas Electronics














6723, +2.03%












  climbed 2% amid hopes for a strong U.S. holiday-shopping season. But so-called domestic-demand stocks that had recently attracted buying amid global-growth concerns were down. Pharmaceuticals and utilities were the two worst-performing sectors, respectively dropping 0.8% and 0.5%. That as the dollar














USDJPY, -0.05%












  was around ¥113.46, versus ¥113.21 as of Monday’s Tokyo stock market close.

Hong Kong‘s Hang Seng Index














HSI, +0.00%












  rose from early session lows and was last up 0.1%, with property stocks weak after yesterday’s gains. Energy was also lagging with oil prices sliding this morning, though tech names were up modestly; Cnooc














0883, -1.25%












  was off 1.5% while Tencent














0700, +1.74%












  rose nearly 1%. Meanwhile, Tingyi shares














0322, -16.33%












  are threatening to have their worst-ever day as the China-based instant noodle/beverage maker reported what Jefferies calls an unexpected revenue drop last quarter.

Chinese stocks were higher, led by small caps. The Shanghai Composite














SHCOMP, +0.42%












  climbed 0.4%, versus a 0.6% gain for the Shenzhen Composite














399106, +0.62%












 . Tech companies were doing well after recent weakness, and oil names were up after yesterday’s slump.

Australia’s benchmark














XJO, +0.83%












  rose as energy companies gained. New Zealand stocks














NZ50GR, +0.22%












  were up slightly as well.

South Korea’s Kospi














SEU, +0.64%












  rose as Hyundai Motor














005380, +5.68%












  jumped nearly about 5%. Taiwan’s Taiex














Y9999, -0.17%












  slipped as Foxconn














2354, -0.81%












 fell nearly 1%. Singapore’s benchmark index














STI, +0.35%












  was about flat.

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Source : MTV