Asian stock mixed after Wall Street sets more records

Nikkei 225 index lost 1% to 41,056.81, Hang Seng index gained 0.4% to 25,490.45, the Shanghai Composite index lost 0.2% to 3,587.25, Taiex rose 0.3%, Kospi was little changed at 3,195.49, while Australia’s S&P/ASX 200 rose 0.3% to 8,688.40

Stock markets in Asia were mixed on Monday after US stocks rose to more records as they closed out another winning week.

US futures and oil prices were higher ahead of trade talks in Stockholm between US and Chinese officials.

European futures rose after the European Union forged a deal with the Trump administration calling for 15% tariffs on most exports to the US

The agreement announced after President Donald Trump and European Commission chief Ursula von der Leyen met briefly at Trump’s Turnberry golf course in Scotland staves off far higher import duties on both sides that might have sent shock waves through economies around the globe.

Tokyo’s Nikkei 225 index lost 1% to 41,056.81 after doubts surfaced over what exactly the trade truce between Japan and U.S. President Donald Trump, especially the $550 billion pledge of investment in the U.S. by Japan, will entail.

Terms of the deal are still being negotiated and nothing has been formalized in writing, said an official, who insisted on anonymity to detail the terms of the talks. The official suggested the goal was for a $550 billion fund to make investments at Trump’s direction.

Hong Kong’s Hang Seng index gained 0.4% to 25,490.45 while the Shanghai Composite index lost 0.2% to 3,587.25. Taiwan’s Taiex rose 0.3%.

CK Hutchison, a Hong Kong conglomerate that’s selling ports at the Panama Canal, said it may seek a Chinese investor to join a consortium of buyers in a move that might please Beijing but could also bring more U.S. scrutiny to a geopolitically fraught deal. CK Hutchison’s shares fell 0.6% on Monday in Hong Kong.

Elsewhere in Asia, South Korea’s Kospi was little changed at 3,195.49, while Australia’s S&P/ASX 200 rose 0.3% to 8,688.40. India’s Sensex slipped 0.1%.

Markets in Thailand were closed for a holiday.