Trade between China and the United States

Asia-Pacific markets were mostly in negative territory on Friday morning, with investors still worried about trade tensions between the US and China.

The MSCI's broadest share of Asia Pacific shares outside Japan was down 0.18% in the morning.

Mainland China's markets declined, with the Shenzhen Composite losing 0.39% and the Shanghai Composite in negative territory. The Hang Seng Hong Kong index rose slightly by 0.13%.

In Japan, the benchmark Nikkei 225 reduced its losses by 0.57%, while the Topix index was down 0.21%. South Korea, Kospi, lost 0.59%. In Australia, the ASX 200 index fell 0.67%, with the heavily weighted financial sub-index declining 0.84%.

"Trade negotiations between the United States and China have had a negative impact on the markets," analysts ANZ Research said. "China is ready to break and support its private companies rather than give in to the financial pressures exerted by the United States."

ANZ analysts pointed out that since the two sides "will only negotiate on their own terms, it may be years before the two powers find sufficient ground for agreement" .

Both Beijing and Washington have imposed tariffs on billions of dollars worth of goods since last year. Trade tensions have affected financial markets and weakened the business climate. The situation worsened earlier this month when both parties increased tariffs on their products.

Overnight, US stocks fell as investors feared the trade war would last much longer than expected. The data also showed that manufacturing activity in the world's largest economy had recorded the slowest growth since September 2009 this month.

In India, Prime Minister Narendra Modi and his party Bharatiya Janata won a landslide victory in the re-election. Thursday, as Modi's party led the vote count, investors were pleased – at one point, the Nifty 50 exceeded the 12,000 mark while the Sensex crossed the 40,000 mark. finally yielded gains and closed down.

Elsewhere, the dollar index, which measures the greenback versus a basket of peers, traded for the last time at 97,882, down from levels above 98,000.

The Japanese yen, considered a safe haven currency, traded at 109.69 per dollar, strengthening against levels above 110.40 earlier in the week. At the same time, the Australian dollar changed hands at 0.6892 dollars, falling slightly below 0.6880 dollars.

Oil prices jumped during trading hours in Asia, rebounding after Thursday's losses. Futures in Brent jumped 0.96% to $ 68.41 a barrel and US futures for crude oil rose about 1% to $ 58.48 a barrel.