AFP, Hong Kong :
Asian markets mostly fell on Friday as China-US trade talks wrapped up with little progress being made, while the dollar held gains ahead of a key speech by the head of the Federal Reserve.
The Australian dollar was among the worst performers as the country is gripped by political uncertainty with Prime Minister Malcolm Turnbull ousted and the governing Liberal Party set to choose a new leader.
Officials from Beijing and Washington finished a two-day meeting that saw what the Chinese side described as “constructive and frank” discussions on trade.
The low-level negotiations were the first since the world’s top economies began exchanging tit-for-tat tariffs in July and came as the two sides imposed measures on billions of dollars more in goods.
“The two sides will keep contact regarding future plans,” China’s Commerce Ministry said in a brief statement, while the White House said the talks concluded after officials “exchanged views on how to achieve fairness, balance and reciprocity in the economic relationship”.
In early trade Hong Kong fell 0.8 percent, Shanghai shed 0.5 percent, Seoul dropped 0.2 percent and Singapore lost 0.9 percent.
However, Tokyo ended the morning 0.4 percent higher as a weaker yen helped exporters.
Sydney’s under-pressure S&P/ASX 200 fluctuated as traders keep tabs on events in Canberra after a party backlash this week against Turnbull’s more moderate approach to politics.
The Australian dollar has lost almost two percent against the greenback since Tuesday as the prime minister’s political career came to an end.
Asian markets mostly fell on Friday as China-US trade talks wrapped up with little progress being made, while the dollar held gains ahead of a key speech by the head of the Federal Reserve.
The Australian dollar was among the worst performers as the country is gripped by political uncertainty with Prime Minister Malcolm Turnbull ousted and the governing Liberal Party set to choose a new leader.
Officials from Beijing and Washington finished a two-day meeting that saw what the Chinese side described as “constructive and frank” discussions on trade.
The low-level negotiations were the first since the world’s top economies began exchanging tit-for-tat tariffs in July and came as the two sides imposed measures on billions of dollars more in goods.
“The two sides will keep contact regarding future plans,” China’s Commerce Ministry said in a brief statement, while the White House said the talks concluded after officials “exchanged views on how to achieve fairness, balance and reciprocity in the economic relationship”.
In early trade Hong Kong fell 0.8 percent, Shanghai shed 0.5 percent, Seoul dropped 0.2 percent and Singapore lost 0.9 percent.
However, Tokyo ended the morning 0.4 percent higher as a weaker yen helped exporters.
Sydney’s under-pressure S&P/ASX 200 fluctuated as traders keep tabs on events in Canberra after a party backlash this week against Turnbull’s more moderate approach to politics.
The Australian dollar has lost almost two percent against the greenback since Tuesday as the prime minister’s political career came to an end.
