Asian stock markets trade flat; Nikkei 225 down ~1%

Elsewhere in Asia, Shanghai, South Korea, Singapore, New Zealand, Hong Kong and Taiwan markets are also trading lower, while Indonesian and Malaysian equities are modestly higher.

Jan 10, 2019 05:01 IST India Infoline News Service

Asian stock markets erased morning losses and are now trading slightly higher as markets take a breather after rallying this week on optimism over China-US trade talks and the Federal Reserve’s softer tone on interest rates.

Investors also digested official data that China's inflation for December came in below expectations.

Oil stocks are trading higher after crude oil prices gained more than 5% overnight.

Delegations from China and the US ended three days of trade talks in Beijing on a positive note. This was the first face-to-face negotiations since both sides agreed a 90-day truce in the ongoing trade war that has disrupted the flow of hundreds of billions of dollars of goods, as per media reports.

Elsewhere in Asia, Shanghai, South Korea, Singapore, New Zealand, Hong Kong and Taiwan markets are trading lower, while Indonesia and Malaysia markets are modestly higher.

Japan's Nikkei 225 and the Topix index declined 1% each. South Korea's Kospi was lower by 0.32% as shares of steelmaker Posco fell more than 1%.

On Wall Street, stocks closed higher for the fourth consecutive session on Wednesday. The Dow climbed 92 points to 23,879, the Nasdaq advanced 60 points to 6,957 and the S&P 500 rose 11 points to 2,584.

Related Story