Sydney’s S&P-ASX 200 shed 0.4% to 6,903.70 while India’s Sensex added 0.6% to 41,859.69. Taiwan advanced while Singapore and New Zealand retreated.
Under the “Phase 1” trade pact due to be signed Thursday, Washington postponed planned tariff hikes and Beijing agreed to buy more American farm exports.
Details have yet to be released. Economists warn key hurdles including Beijing’s insistence that Washington roll back punitive tariffs on Chinese goods have yet to be resolved.
The chief American negotiator, Robert Lighthizer, said Beijing agreed to make changes to address U.S. complaints that it steals or pressures companies to hand over technology. Chinese officials have yet to confirm that.
ENERGY: Benchmark U.S. crude shed 2 cents to $59.02 per barrel in electronic trading on the New York Mercantile Exchange. The contract lost 52 cents on Friday to close at $59.04. Brent crude, used to price international oils, lost 6 cents to $64.92 per barrel in London. It declined 39 cents the previous session to $64.98.
CURRENCY: The pound was the big mover, falling below $1.30 for the first time this year on speculation the Bank of England could cut interest rates. It was trading at $1.2910, down from $1.3063 on Friday.
The dollar gained to 109.89 yen from 109.46 yen, while the euro edged down to $1.1121 from $1.1123.