Asian stocks open mixed as trade optimism fades

Posted Tuesday, 15 October 2019 ‐ CNN

Hong Kong (CNN Business)Optimism is fading over last week's tentative trade truce between the United States and China.Asian stocks were mixed Tuesday. Hong Kong's Hang Seng Index (HSI) inched down 0.1%. China's Shanghai Composite Index (SHCOMP) dropped 0.4% in early trading. Both ended higher Monday.South Korea's Kospi (KOSPI) also opened slightly lower, though edged higher during early trading. On Monday, the index ended up 1.1%.Japan's Nikkei 225 (N225) was the region's outlier: It advanced 1.8%, catching up to its global peers after being closed Monday for a holiday.US futures, meanwhile, edged higher following a lower close on Wall Street overnight. Futures for the Dow (INDU), S&P 500 (SPX) and Nasdaq (COMP) all moved up 0.2% during Asian trading hours.US President Donald Trump announced what he called a "very substantial phase one deal,"sparking hope for a resolution in the US-China trade war. The preliminary agreement includes a halt on US tariff increases that were supposed to go into effect this week. Trump also told reporters that intellectual property, financial services and agricultural purchases are included in the agreement. But the two sides still appear to be far from striking any sort of comprehensive deal, and the latest announcement doesn't address some of the biggest rifts dividing the United States and China.

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