Asian markets mixed amid tariff talks

ASIAN markets were mixed on Thursday as China poured cold water on US President Donald Trump's comments talking up the prospects of a deal to end their trade war.

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Trump said this week that Washington would have a “fair deal with China” and that there was direct contact “every day”.

He had said tariffs would “come down substantially”.

But China said yesterday that there were no negotiations ongoing.

“Any claims about the progress of China-US economic and trade negotiations are groundless and have no factual basis,” Commerce Ministry spokesperson He Yadong told a news conference.

“China urges the US to correct its wrong practices, show the sincerity needed for talks (and) return to the correct track of equal dialogue and consultation,” He said.

Trump’s comments, as well as his insistence that he has “no intention” of firing the head of the US Federal Reserve, Jerome Powell, boosted markets.