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Asia Markets: Asian markets mixed as traders weigh U.S.-China trade dispute

Asian stock markets were mixed in early trading Tuesday, as traders weighed the latest development in the ongoing trade dispute between the U.S. and China.

U.S. Trade Representative Robert Lighthizer said Monday that China was “reneging” on its commitments after months of trade negotiations, and that the U.S. would follow through with President Donald Trump’s threats and raise tariffs on $200 billion in Chinese goods to 25% from 10% on Friday. But hopes of an imminent trade deal remained, as China is still expected to send a delegation to Washington this week for what could be a final round of talks, starting Thursday — a day later than originally planned.

The escalating trade tensions sent Asian markets plunging Monday, and Wall Street started the day similarly, but rebounded and ended the trading day with just slight losses.

Japan’s Nikkei

NIK, -1.33%

  fell 0.8% as it resumed trading after a 10-day national holiday for the installation of a new emperor. Hong Kong’s Hang Seng Index

HSI, +0.16%

  rose 0.6%, and the Shanghai Composite

SHCOMP, +0.32%

  — whjch fell more than 5% Monday — rose 0.6% and the smaller-cap Shenzhen Composite

399106, -5.39%

  rebounded 1.8%. South Korea’s Kospi

SEU, -1.14%

  fell 1%, while benchmark indexes in Taiwan

Y9999, +0.87%

 , Singapore

STI, +0.20%

  and Indonesia

JAKIDX, -1.00%

  rose. Australia’s S&P/ASX 200

XJO, +0.63%

  gained 0.8%.

Among individual stocks, Sony

6758, +4.76%

  and SoftBank

9984, +0.87%

  advanced in Tokyo trading, while robotics maker Fanuc

6954, -3.20%

 and Fast Retailing

9983, -1.79%

  fell. In Hong Kong, CNOOC

0883, +2.67%

  and Sunny Optical

2382, +1.32%

  rose, while food processor WH Group

0288, -0.71%

  declined amid a deadly swine fever that is devastating China’s pork industry. Samsung

005930, -2.83%

  slipped in South Korea, and Foxconn

2354, +1.34%

  rose in Taiwan. BHP

BHP, +1.52%

  and Beach Energy

BPT, +1.89%

  advanced in Australia.

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