ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailMenu BurgerPositive ArrowIcon PrintIcon SearchSite TitleTitle ChevronIcon Twitter
Nikkei Markets

Asian equities fall on persisting doubts over US-China trade deal

Worsening unrest in Hong Kong adds to weak investor sentiments

HONG KONG (Nikkei Markets) -- Asian shares outside of Japan declined Wednesday amid lingering doubts over a U.S.-China trade deal and intensifying unrest in Hong Kong.

The Nikkei Asia300 Index of companies outside Japan slid 1.1% to 1,312.25.

The appetite for Asian equities was marred by U.S. President Donald Trump's comments that left investors uncertain about the prospects of an interim deal between the U.S. and China. Trump yesterday accused China of cheating the U.S. and said he could increase tariffs if a deal was not reached. While a deal was close, it will be accepted only if it is beneficial to the U.S., he said.

Trump's comments followed his remarks last week that he had not decided on whether to roll back tariffs, contradicting China's Commerce Ministry.

Stephen Innes, the chief market strategist at AxiTrader, said Trump yesterday "didn't exactly come across a willing deal maker" and that the traders remained uncertain over whether tariffs will be rolled back.

Meanwhile, Hong Kong's Hang Seng Index fell 1.8%, extending its weekly losses. Protests, which have been running for about six months now in the city, have intensified this week after police shot at least one demonstrator. Last week, the death of a teenage protestor had worsened tensions between the police and demonstrators.

Hong Kong property developers once again paced losses on the A300 gauge. New World Development dropped 4.9%, Henderson Land Development declined 2.9%, Sun Hung Kai Properties slipped 2.4%, and Swire Pacific lost 3.7%

Hong Kong rail operator MTR fell 2.2% amid disruption of services for the third straight day.

Chinese social media and gaming major Tencent Holdings declined 0.8% ahead of its third-quarter earnings.

China Life Insurance dropped 1.4% amid the broad market losses. The company said its January-October premium income increased 5.8% from a year earlier.

Wilmar International advanced 2.9% after the Singapore-listed agribusiness company said net profit in the third quarter increased 10.2% year-on-year. UOL Group fell 2.1% after the Singaporean property developer said net profit in the same period declined 6.6%.

NMDC fell 2.9% despite the Indian mineral producer's September quarter net profit increasing 10.5%. Hindalco Industries declined 3.6% after the aluminum producer reported a 33% fall in its net profit.

--Nimesh Vora

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Get Unlimited access

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends January 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media