Most Asian stock markets closed positive, reacting to news that China and the U.S. are close to agreeing on an audit agreement.

Tokyo Nikkei closed at 28,641.38, up 162.37 or +0.57%. Investors were waiting for Federal Reserve Chairman Jerome Powell’s speech in Jackson Hole. The winners were Unitika+4.44%, Mitsui Chemicals, Inc.+3.07%. and Komatsu+2.95%. The losers were Asahi Group Holdings-2.68%, Recruit Holdings-1.94%, and Japan Steel Works-1.72%.

In Australia, the S&P/ASX 200 closed at 7,104.10, up 56 points or +0.79%, and the All Ordinaries closed at 7,345.80, up 53.90 or 0.74%, as iron ore prices spurred buying of mining stocks. The winners were Bega Cheese+11.75%, Viva Energy+6.88%, and Qantas Airways+6.58%. The losers were Polynovo-18.81%, Westgold Resources-17.60%, and Appen Ltd-5.58%.

The South Korean Composite (KOSPI) closed at 2,481.03 points, up 3.77 points or +0.15%. The best performers were Hanmiglibal+29.71%, Seah Spe Steel+29.70%, and Seah Holdings+15.64%. The worst performers were GeneOne Life Science-8.05%, Sidiz-6.64%, and KEPCO Eng & Const-5.25%.

China’s Shanghai Composite closed down 10.03 or -0.31% at 3,236.22 points as investors remain concerned about a slowdown in the Chinese economy. The losers were Longkou Union Chemical (-18.97%), Guanhao Biotech (-11.08%), and Jiangsu Huasheng Tianlong Photo (-10.85%). Doright Co+20%, Hunan Lead Power Dazhi Tech+20%, and Misho Ecology Landscape+19.91% were the winners.

Hong Kong’s Hang Seng closed up 201.66 points, or +1.01%, at 20,170.04 points on a surge in technology stocks, which reacted to reports that China and the U.S. may be able to reach an audit agreement for Chinese tech companies. Yuk Wing Holdings (+88.31%), China Rongzhong Financial (+81.54%), and Mexan (+50.54%) were the best performers.

In Thailand, the SET closed at 1,644.78 points, up 1.26 points or +0.08%. The best performers were Samart Digital+17.39%, Thai Inger Holding+15.91%, and D.T.C. Industry. Ries+13.93%. The worst performers were Samart Telcom-7.50%, Thailand Plastic-Coated Fabric Industry-6.61%, and Asia Green Energy-6.45%.

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