Samsung warns of big drop in profit; markets in Hong Kong, China closed

Shares were mixed in Asia on Friday, with Chinese markets closed for a holiday.

China’s President Xi Jinping said in a letter to President Donald Trump that substantial progress has been made in the trade talks, and called for negotiations to end as soon as possible, according to a report Thursday night by China’s Xinhua News Agency. Xinhua also reported that Vice Premier Liu He, who met with Trump on Thursday in Washington, said new consensus had been reached on the text of a trade agreement. Earlier in the day, Trump said “We have a ways to go, but not very far,” predicting a “monumental” announcement in the coming weeks.

Japan’s Nikkei NIK, +0.38%   rose 0.3%, while South Korea’s Kospi SEU, +0.14%   was about flat. Australia’s S&P/ASX 200 XJO, -0.83%   fell 0.8%, and benchmark indexes in Singapore STI, +0.19%   and Indonesia JAKIDX, -0.32%   were mixed. Stock markets in Hong Kong, mainland China and Taiwan were closed for a holiday.

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