Hong Kong (CNN Business)Asian markets were mixed on Monday.
(Hong Kong’sHang Seng Index(HSIopened up 0.5% – briefly breaching (*******************************************, for the first time in nearly five months – before trimming gains slightly. The index has been volatile this year, plunging 9% in the third quarter as thecity’s protestsand the US-China trade warweighed on sentiment. It then recovered losses in the fourth quarter and is now up 8% for the year.
Japan’sNikkei(Nticked 0.1% higher, while South Korea’sKospi(KOSPI)dipped 0.2%. China’sShanghai Composite(SHCOMP)inched up 0.1% in choppy trading.
ChinaannouncedSaturday that President Xi Jinping spoke on the phone with US President Donald Trump and discussed the ‘phase one’ trade deal. The two agreed to stay in contact.
Trump also said in a
- tweet
that He had a “very good talk” with Xi, adding that the formal signing of the deal was “being arranged.”
Alibaba rose 1.2% to ************************************ (Hong Kong dollars ($ ****************************************. in early trading. The stock has soared 16% above its listing price since its debut November .
Kingsoft Corporation, a Chinese software developer, advanced 2.6% in Hong Kong after the companysaidit wants to spin off its cloud computing service unit and list it separately in New York.
It’s a shortened trading week for some markets in the region. Hong Kong markets will be closed starting Tuesday afternoon and will reopen Friday. South Korean markets will also shut down Christmas Day.
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