AFP, Hong Kong :
Asian markets fell Thursday as investors in most countries wound down going into the long Easter break, with positive comments on the China-US trade talks and healthy Chinese growth unable to fire buying activity.
Donald Trump’s key trade negotiator Robert Lighthizer is reportedly preparing to visit Beijing at the end of the month for another round of top-level talks aimed at ending the long-running tariffs spat.
The Wall Street Journal story was followed by the president saying he was optimistic the talks would be “successful”, and telling reporters there would be an announcement “very, very shortly”.
The upbeat developments were the latest to give hope for an end to a row that has dragged on the global economy and contributed to a market sell-off at the end of last year.
However, investors seemed unmoved, with Wall Street ending down and Asia also in the red on the final day of business before Easter.
OANDA senior market analyst Jeffrey Halley said the fact that markets “continue to bumble along in sideways ranges” indicated “a lot of good news — both present and future – is already baked into prices at these levels.
“Ahead of the extended Easter holidays and into the end of the month, the markets may be much more vulnerable to negative headlines than they have been in recent times.”
World markets have enjoyed a stellar year so far thanks to trade talk hopes as well as a more dovish stance by central banks, led the Federal Reserve saying it will not lift interest rates this year.
Hong Kong lost 0.5 percent, Shanghai finished down 0.4 percent and Singapore eased 0.2 percent. Tokyo closed down 0.8 percent.
Mumbai, Wellington and Taipei were also lower, though Sydney was slightly up.
Jakarta jumped 0.7 percent – and the rupiah rose 0.3 percent – as early polls suggested business-friendly incumbent Joko Widodo was on course to win Indonesia’s presidential election.
Asian markets fell Thursday as investors in most countries wound down going into the long Easter break, with positive comments on the China-US trade talks and healthy Chinese growth unable to fire buying activity.
Donald Trump’s key trade negotiator Robert Lighthizer is reportedly preparing to visit Beijing at the end of the month for another round of top-level talks aimed at ending the long-running tariffs spat.
The Wall Street Journal story was followed by the president saying he was optimistic the talks would be “successful”, and telling reporters there would be an announcement “very, very shortly”.
The upbeat developments were the latest to give hope for an end to a row that has dragged on the global economy and contributed to a market sell-off at the end of last year.
However, investors seemed unmoved, with Wall Street ending down and Asia also in the red on the final day of business before Easter.
OANDA senior market analyst Jeffrey Halley said the fact that markets “continue to bumble along in sideways ranges” indicated “a lot of good news — both present and future – is already baked into prices at these levels.
“Ahead of the extended Easter holidays and into the end of the month, the markets may be much more vulnerable to negative headlines than they have been in recent times.”
World markets have enjoyed a stellar year so far thanks to trade talk hopes as well as a more dovish stance by central banks, led the Federal Reserve saying it will not lift interest rates this year.
Hong Kong lost 0.5 percent, Shanghai finished down 0.4 percent and Singapore eased 0.2 percent. Tokyo closed down 0.8 percent.
Mumbai, Wellington and Taipei were also lower, though Sydney was slightly up.
Jakarta jumped 0.7 percent – and the rupiah rose 0.3 percent – as early polls suggested business-friendly incumbent Joko Widodo was on course to win Indonesia’s presidential election.
