Asia stocks trade cautiously amid US-China trade jitters and unrest in Hong Kong - CNBC

Stocks in Asia traded cautiously Tuesday morning amid concerns over the state of U.S.-China trade negotiations as well as a recent escalation of violence in ongoing protests in Hong Kong.

Japan's Nikkei 225 was slightly higher in early trade while the Topix index declined more than 0.1%. Automaker Nissan Motor's shares slipped around 0.1% ahead of the expected release of its quarterly earnings report on Tuesday.

The Kospi in South Korea added 0.32% while Australia's S&P/ASX 200 traded 0.45% lower.

Overall, the MSCI Asia ex-Japan index traded fractionally lower.

Investors are looking for developments on U.S.-China trade, amid uncertainty over what has been agreed to between the two economic powerhouses. U.S. President Donald Trump said Friday he had not agreed to roll back tariffs on China. That conflicted with comments from the Chinese commerce ministry, which said both sides had agreed to cancel existing levies in phases. A U.S. official also said both sides agreed to roll back the tariffs in tranches.

Meanwhile, market movements in Hong Kong will also be monitored, after the Hang Seng index plunged more than 2.5% on Monday following an escalation in violence amid unrest in the embattled city. A protester was left in critical condition after being shot by police Monday morning local time. Separately, another man was also in critical condition after he was doused with what police described as "flammable liquid" and set on fire.

Overnight on Wall Street, the Dow Jones Industrial Average eked out a record close, adding 10.25 points to 27,691.49. The S&P 500 ended its three-day winning streak, declining 0.2% to 3,087.01. The Nasdaq Composite shed 0.1% to close at 8,464.28.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 98.2 after seeing levels above 98.3 yesterday.

The Japanese yen, widely viewed as a safe-haven currency in times of market uncertainty and turmoil, traded at 109.02 after strengthening from levels around 109.2 yesterday. The Australian dollar changed hands at $0.6848 after slipping from levels around $0.686 in the previous session.

What's on tap:

• Japan earnings: Nissan Motor

— CNBC's Fred Imbert contributed to this report.

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Asia stocks trade cautiously amid US-China trade jitters and unrest in Hong Kong - CNBC
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