Investing.com - Asian markets were mixed in morning trade on Friday as the closely watched U.S.-China trade talks ended with little, if any, progress.
No further talks between the two sides had been scheduled, Bloomberg reported citing a person familiar with the discussions.
The person added that it is likely no further negotiation would happen until after November’s mid-term elections in the U.S.
China’s Shanghai Composite and the Shenzhen Component were both down 0.3% by 9:45PM ET (01:45 GMT). Hong Kong’s Hang Seng Index traded 0.5% lower.
Following the conclusion of the U.S.-China meeting this week, the White House said in a statement that the countries “exchanged views on how to achieve fairness, balance, and reciprocity in the economic relationship.”
The United States imposed 25% tariffs on an additional $16 billion of Chinese goods just after midnight ET Thursday, prompting China to respond with in-kind measures against U.S. goods.
Overnight, the S&P 500 closed just below breakeven Thursday, as the Dow Jones Industrial Average fell about 0.3% and the Nasdaq Composite fell about 0.1%.
Powell’s Jackson Hole symposium remarks, due at 10:00 AM ET (14:00 GMT), are the highlight of the trading day. Markets will likely be focusing on anything from the Fed chief about maintaining the central bank’s independence after U.S. President Donald Trump said earlier this week that he was “not thrilled” about the Fed’s recent hikes and reportedly told people at a fundraiser he was expecting Powell be a cheap-money chairman.
"For equities, the key point will be whether Powell indicates that the Fed is poised to hike rates two more times this year. That would fall in line with expectations and not cause much of a stir," said Soichiro Monji, senior economist at Daiwa SB Investments in Tokyo.
"Any mention of recent turbulence in the emerging markets may also provide the risk asset markets with some relief."
Down under, Australia’s S&P/ASX 200 slipped 0.1% as traders await the decision on Friday that would determine the fate of Prime Minister Malcolm Turnbull as rivals seek enough signatures to force a vote on his leadership.
Elsewhere, Japan’s Nikkei 225 gained 0.4%, while South Korea’s KOSPI was down 0.2%.