Asian markets were cautious before the first US-China trade agreement was signed

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<pre><pre>Asian markets were cautious before the first US-China trade agreement was signed

Asian markets were mixed early in the month of trading before a phase 1 US-China trade agreement was signed later this week.

The world's two largest economic powers are expected to sign the Phase 1 treaty in Washington on Wednesday. China is reportedly looking to buy more U.S. agricultural products and implement economic reforms, and the Wall Street Journal reported Saturday that the U.S. and China have also agreed to hold semi-annual talks to discuss and resolve issues.

"The market is unlikely to be exceptionally excited since the agreement has been telegraphed extensively, although President Trump is likely to usher in the deal with a lot of fanfare," wrote Stephen Innes, chief strategist for Asia at AxiTrader, in a note Sunday. "Assuming that the deal includes a commitment from China to increase agricultural products and a reliable enforcement mechanism, the market will progress happily."

Hong Kong's Hang Seng Index

HSI, + 0.88%

rose 0.8% during the Shanghai Composite

SHCOMP, + 0.75%

was about flat and the Shenzhen Composite

399,106, + 1.36%

advanced 0.7%. South Korea's Kospi

180,721, + 1.04%

gained 0.6% while the reference indices rose in Taiwan

Y9999, + 0.74%

, Singapore

STI, -0.13%

and Indonesia

JAKIDX, + 0.05%

were mixed. Australia's S & P / ASX 200

XJO, -0.37%

fell 0.5%. The Japanese Nikkei was closed due to a public holiday.

Apple component manufacturer Sunny Optical is located under the individual titles

2382, + 2.39%

and AAC

2018 + 1.50%

rose in Hong Kong trade along with Sun Hung Kai Properties

16 + 1.68%

and Bank of China

3988, + 1.22%

, Hyundai engine

005,380, + 1.32%

advanced in South Korea while BHP

BHP, -0.93%

and oil exploration

Osh, -1.89%

fell in Australia.

Share prices ended lower on Friday after the Dow briefly passed the 29,000 milestone and investor euphoria about recent highs was dampened by data suggesting slower than expected US employment and wage growth in December. The S&P 500 index

SPX, -0.29%

fell 0.3% to 3,265.35 from Thursday's record. The Dow Jones Industrial Average

DJIA, -0.46%

The level of 29,000 was briefly exceeded for the first time, but decreased by 0.5%. The Nasdaq composite

COMP, -0.27%

fell 0.3% to 9,178.86.

US crude oil benchmark

CLG20, + 0.05%

won 1 cent at $ 59.05 a barrel in electronic trading on the New York Mercantile Exchange. The contract lost 52 cents on Friday and closed at $ 59.04. Brent crude oil

BRNH20, -0.02%

, which was used at the price of international oils, fell 6 cents in London to $ 64.92 a barrel. It dropped 39 cents to $ 64.98 in the previous session.

The dollar

USDJPY, + 0.17%

rose from 109.46 yen on Friday to 109.62 yen.

The Associated Press contributed to this report.