Asian markets mostly rise after Trump suggests trade talks are in 'final throes' – CNN, CNN

Hong Kong (CNN Business)Asian markets mostly rose after US President Donald Trump suggested a trade deal with China is in the final stages.

Japan’sNikkei 225((N))rose 0.4% on Wednesday. South Korea’sKospi indexKOSPI)also gained 0.3%. Hong Kong’s benchmarkHang Seng IndexHSI)added 0.1%.

China’sShanghai Composite(COMP)dropped as much as 0.5% in early trading, though recouped most ofGovernment data released Wednesday showed that China’s industrial profits declined 9.9% in October from a year earlier. That loss accelerated from a 5.3% drop in September.

Trump said Tuesday in Washington that the United States was in the “final throes of a very important deal” on trade.

Markets have been sensitive to developments in the US-China trade negotiations. China’s commerce ministry said Tuesday the two countries “reached a consensus” on how to resolve each other’s key concerns.