Asia stocks declined on Thursday following a report that an anticipated “phase-one” trade deal between the U.S. and China may not be inked by the end of 2019.
In Japan, the Nikkei 225 dropped 109.99 points, or 0.5%, to 23,038.58, with shares of Tokyo Electron falling 3.4%.
The Japanese yen, often seen as a safe-haven currency in times of market uncertainty and turmoil, traded at 108.6 against the U.S. dollar after touching an earlier high of 108.27.
In Hong Kong, the Hang Seng Index tumbled 422.73 points, or 1.6%, to 26,466.88, with shares of Chinese tech behemoth Tencent falling 1.9%.
Korean markets took some knocks as shares of industry heavyweight Samsung Electronics docked 2.1%, and SK Hynix fell 2.2%.
Australian stocks moved lower as shares of Westpac dropped 2%, after Australian Prime Minister Scott Morrison called on the lender’s board to reflect “very deeply” over the future of the firm’s CEO.
That decline followed a more than 3% drop on Wednesday after Australia’s anti money-laundering and terrorism financing regulator filed for civil penalty orders against the firm, alleging its “oversight of the banking and designated services provided through its corresponding banking relationships was deficient.”
The Australian dollar changed hands at $0.6795 after slipping from highs above $0.681 in the previous session.
CHINA
In Shanghai, the CSI 300 lost 18.26 points, or 0.5%, to 3,889.60
Media reports, citing trade experts and people close to U.S. President Donald Trump’s administration, say the completion of a partial trade deal could be pushed into 2020 as China seeks more extensive tariff rollbacks. That report came after The Wall Street Journal reported, citing former Trump administration officials, that the ongoing trade talks could hit an impasse.
For its part, a spokesman for the Chinese commerce ministry told reporters on Thursday that Beijing will strive to reach a “phase one” trade deal with Washington
In other markets
In Taiwan, the Taiex faded 72.93 points, or 0.6%, to 11,558.27
In Korea, the Kospi dropped 28.72 points, or 1.4%, to 2,096.60
In Singapore, the Straits Times Index slumped 37.57 points, or 1.2%, to 3,192.21
In New Zealand, the NZX dipped 17.33 points, or 0.2%, to 10,958.16
In Australia, the ASX 200 retreated 49.51 points, or 0.7%, to 6,672.91