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Asian stocks movement mixed as investors wait for clearer news on US-China trade deal

Asian stocks movement mixed as investors wait for clearer news on US-China trade deal
Asian stocks movement mixed as investors wait for clearer news on US-China trade deal
There were mixed movements in the Asian stock market on Tuesday as investors wait for clearer news on the trade talks between the United States and China, pulling down their motivation to trade.

MSCI's index of Asia-Pacific region outside excluding Japan rose by 0.2 percent. This came after there were increased hopes for stimulus in China.

On the other hand, Japan's Nikkei dropped 0.2 percent along with South Korea's Kospi 200 which also shed 0.3 percent.

Vishnu Varathan from Mizuho Bank's Asia Treasury Department said that the stock markets are subdued for the day. He added that investors are paying greater attention to the trade talks between the two largest economies in the world aimed at resolving the trade war which had stunted global growth.

Varathan also said that there might still be doubts on whether the phase one deal the two nations are working on would actually be closed.

CNBC reported that Beijing was rather negative about the possibility of settling on an agreement in the first phase of the trade talks.

The Trump Administration has provided an extension of the license for Huawei to trade with American companies for another 90 days.

Not much detailed information is available about the prospective trade deal between the two nations. Moreover, this week's low trading volume suggested that hopes for a resolution of the trade war are fading away.

Michael McCarthy from CMC Markets said that they are still waiting for a development on the trade negotiations. He added that as time goes on like this, concerns around the globe will continue to rise.

The United States has another round of tariffs on Chinese imports to the country currently on schedule on December 15 this year. 

US stocks always remained flat as there was not much motivation to trade amidst the lack of clarity.