Asian markets opened in red for the second day on Friday, as investor sentiment weakened looking for fresh catalysts. As initial optimism after the China-US trade talks fades, investors opt for a cautious stance.Shanghai traded at 3,361.7, down 19.12 points or 0.57%. Japanese benchmark Nikkei also slumped 96.12 points or 0.25%. Hong Kong’s Hang Seng followed a similar suit, dropping to 23,234.6, down 218.56 points or 0.93% at 8.27 IST.Meanwhile, South Korean Kospi continued its upward trajectory, with a slight uptick of 0.09% or 2.31 points, reaching 2,623.67 points.Tokyo slipped after data reported the country’s economy contracting in the first quarter of the year. Hong Kong was also dragged down by Alibaba’s weaker than estimated first quarter results, reporting a drop of more than 4%.Global markets remained mixed on Thursday US President Donald Trump said that the US was close to making a deal on Iran’s nuclear program.US stocks mostly edged up in quiet trading on Thursday, amid looming uncertainty over Donald Trump’s trade war.The S&P 500 rose by 0.4%, marking its fourth straight day of gains and bringing it within 3.7% of its record high set earlier this year. The Dow Jones Industrial Average climbed 271 points, or 0.6%, while the Nasdaq slipped 0.2%.Investors are now looking for cues from the US president on how talks with trading partners are progressing, as governments rush to secure deals and dodge his hefty tariffs. Analysts, however, are warning that the initial optimism after the 90-day pause was announced on the tit-for-tat tariffs, is losing momentum, as high tariffs remain in place threatening economic growth.
