Asian markets ended mostly lower on Friday as a cautious mood prevailed ahead of key Trump-Xi meeting at the G20 summit that began in Osaka, Japan. US President Trump and Chinese President Xi are not expected to come out of the meeting with a finalized trade deal, but investors are hoping for a temporary truce on tariffs. Chinese shares ended lower after Trump's top economic advisor, Larry Kudlow, on Thursday said that there are no preconditions set for the Trump-Xi meeting and the White House may move forward with additional tariffs, if the talks do not end in progress. Further, Japanese shares ended lower, dragged down by cyclicals as investors digested a raft of mixed data and kept an eagle eye on the G20 summit. Industrial output in Japan climbed a seasonally adjusted 2.3 percent month-on-month in May, the government said in a preliminary reading. That beat forecasts for an increase of 0.7 percent. Overall inflation in the Tokyo region rose an annual 1.1 percent in June, unchanged from the May reading, although it exceeded forecasts for 1.0 percent. The jobless rate in Japan came in at a seasonally adjusted 2.4 percent in May, in line with expectations and unchanged from the previous month.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,978.88 | -17.91 | -0.60 |
Hang Seng | 28,542.62 | -78.80 | -0.28 |
Jakarta Composite | 6,358.63 | 5.92 | 0.09 |
KLSE Composite | 1,672.13 | -0.57 | -0.03 |
Nikkei 225 | 21,275.92 | -62.25 | -0.29 |
Straits Times | 3,321.61 | -6.99 | -0.21 |
KOSPI Composite | 2,130.62 | -3.70 | -0.17 |
Taiwan Weighted | 10,730.83 | -43.07 | -0.40 |
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