Asia markets mixed amid investor caution after Wall Street slump

Asia markets mixed amid investor caution after Wall Street slump

Asia markets were mixed on Wednesday afternoon amid shaky investor confidence after steep losses on Wall Street overnight.

Greater China markets gained, with Hong Kong’s Hang Seng index rising 0.23 percent in afternoon trade. The Shanghai composite rose 0.21 percent to close at around 2,651.51. The Shenzhen composite added 0.544 percent to end its trading day at about 1,386.43.

The moves in China came after the U.S. said on Tuesday that Beijing has failed to change its “unfair, unreasonable” practices at the core of the trade spat between the two economic powerhouses.

The findings were issued in an update of the U.S. Trade Representative’s investigation into China’s intellectual property and technology transfer policies, which sparked Washington’s recent tariffs on Chinese exports.

The report comes ahead of an expected meeting in the coming weeks between U.S. President Donald Trump and his Chinese counterpart Xi Jinping at the G-20 meeting in Buenos Aires, Argentina on Nov. 30 and Dec. 1.

Most analysts say a deal is unlikely to transpire during the meeting.

“I think it’s probably too early to expect a deal but I think what we can expect is … some sort of agreement to move forward,” Ken Peng, Asia investment strategist at Citi Private Bank told CNBC on Wednesday, citing the example of Japanese Prime Minister Shinzo Abe’s visit to Washington D.C., where a framework for negotiations was achieved.

“I think with China … the ultimate deal comes but takes longer,” he added.

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