Business

Asian stocks move higher ahead of trade talks

Posted October 7, 2019 10:43 p.m. EDT

— Asian stocks moved higher on Tuesday.

Chinese stocks rose as investors returned from a week-long holiday. The Shanghai Composite Index added 0.6%.

Hong Kong's Hang Seng Index gained 0.9%.

Japan's Nikkei 225 and South Korea's Kospi gained 0.9% and 0.7%, respectively.

One focus of the week is the development of the US-China trade talks. China's Commerce Ministry on Tuesday said Vice Premier Liu He, the country's chief trade negotiator, will travel to Washington for the next round of trade discussions on Thursday and Friday.

Yi Gang, the governor of China's central bank, and Ning Jizhe, the deputy head of the National Development and Reform Commission, will also attend the talks.

The White House also mentioned in a release Monday that its lead negotiators — Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer — will welcome Liu and his delegation. The two sides will discuss forced technology transfer, intellectual property rights and agriculture, among other issues.

A decision by the United States to put 28 Chinese entities on a blacklist may cast a shadow over the talks, though.

The US Department of Commerce on Monday attributed that decision to what it called "human rights violations and abuses" of Uyghurs and other predominately Muslim ethnic minorities in China's far western region of Xinjiang.

A 2018 report from the US State Department estimated that China had "arbitrarily detained 800,000 to possibly more than two million Uyghurs, ethnic Kazakhs, and other Muslims in internment camps designed to erase religious and ethnic identities."

Surveillance company Hikvision and its rival, Dahua Technology, were on the list. They both said Tuesday that they would suspend trading of their shares pending announcements, but did not specifically mention the blacklist. Hikvision and Dahua trade in Shenzhen.

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