Chinese markets unstable as trade talks resume in Beijing

Chinese stocks began the week in negative territory and the onshore renminbi lost ground after returning from a five-day break and the start of US-China trade talks in Beijing.

US-China trade talks resumed with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin to meet with Chinese Vice Premier Liu He later this week in Beijing. outcome of a series of talks at a lower level on Monday. President Donald Trump ruled out last week a meeting with Chinese President Xi Jinping ahead of March 1, a deadline that shattered hopes of reaching an agreement to avoid an increase in tariffs by the end of the truce.

Chinese equities regained a lower opening after the return of the Lunar New Year holiday period. The CSI 300 was down 0.1% but remained close to the peak of eight weeks before the holidays.

Hong Kong's Hang Seng Index fell 0.2%, with Financials down 0.3% and Technology Sector down 0.1%. The Hang Seng China Enterprises index was down 0.3%. In Australia, the S & P / ASX 200 was down 0.5% as the financials sector lost 1.2% as the country's four largest banks all declined. Japanese markets were closed for the day of the foundation.

Monday's Asia-Pacific moves came after the S & P 500 finished up 0.1% and the Nasdaq Composite also gained 0.1%.

China's onshore renminbi, limited by a trading band established by Chinese central bankers, fell 0.3 percent to Rb6.7689 per dollar on opening. The offshore rate was firmed to the same extent at RBR 6,764 before retiring to RMB 6,7752.