2/14, 7:08 AM (Source: TeleTrader)
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Chinese stocks rise with tariff cuts set to take effect

Equities in Asia traded mostly higher with tariff reductions agreed in the United States-China phase one trade deal set to take effect later in the day. Investors also continued to focus on the coronavirus as the death toll from the disease reached 1,383 and Japan warned the outbreak could affect the country's economic growth. On the earnings front, Toshiba posted a decline in net sales for the third quarter of fiscal 2019.

The Shanghai Composite added 0.22% at 7:05 am CET and the Shenzhen Composite gained 0.59% at 6:51 am CET. In Hong Kong, the Hang Seng rose 0.37% at 7:06 am CET.

South Korea's Kospi increased by 0.44% at 7:07 am CET and Australia's S&P/ASX 200 ended the session 0.38% higher.

On the other hand, the Nikkei 225 closed 0.59% lower with Nissan, whose shares dropped over 9%, leading the losses after posting a 78% drop in third-quarter operating income.

The dollar traded flat against the yen, going for 109.76 at 7:08 am CET.

Breaking the News / NP