SYDNEY, Australia - Stocks in Asia were mixed on Thursday, despite the historic signing of a new trade deal, or at least a partial one, between the United States and China on Wednesday.
What was being brought home was that the phase one of the deal was just a step towards a complete resolution to the trade differences between the two countries.
"Whether somebody looks at this as big progress or little progress, it is something tangible and so the arrow is pointing in a direction that the market is comfortable with," Chuck Carlson, chief executive officer of Horizon Investment Services at Hammond, Indiana in the United States told The Reuters Thomson news agency Thursday.
At the close of trading Thursday, the Nikkei 225 was ahead 16.55 points or 0.07% at 23,933.13.
The Australian All Ordinaries gained 45.10 points or 0.63% to 7,158.60.
China's Shanghai Composite fell 15.96 points or 0.52% to 3,074.08.
In Hong Kong, the Hang Seng jumped 109.45 points or 0.38% to 28,883.04.
On foreign exchange markets the greenback was mixed. Against the euro, it fell to 1.1149 around the Sydney close Thursday.
The British pound was a tad stronger at 1.3036, as was the Swiss franc at 0.9648.
The Japanese yen edged down to 109.95.
The Canadian dollar inched up to 1.3047. The Australian dollar was unchanged at 0.6904. The New Zealand dollar firmed to 1.3049.
Overnight on Wall Street, the Dow Jones index rose 90.55 points or 0.31% to 29,030.22.
The S&P 500 added 6.15 points or 0.19% to 3,289.30.
The Nasdaq Composite climbed 7.37 points or 0.08% to 9, 258.70.