Stocks in Asia were set for a mixed start to the trading week

Stocks in Asia were set for a mixed start to the trading week as investors monitored the latest on U.S.-China trade. Currencies saw muted moves in early trading. Futures edged up on equities in Japan and Australia, while Hong Kong contracts ticked lower. On the docket this week: Federal Reserve Chairman Jerome Powell speaks on Monday, U.S. consumer spending data is due Wednesday. (Bloomberg)

Hong Kong’s pro-democracy candidates are set to win a majority of district council seats after a record number of people cast ballots on Sunday, the first opportunity to vote after months of increasingly violent protests. Pro-democracy candidates made huge gains, according to the South China Morning Post, while RTHK said the early count suggested a “landslide” win for the group. More than 2.94 million people, or roughly 71% of the financial hub’s electorate, were said to have voted. The results will have a knock-on effect on the Legislative Council elections next year, which draws candidates from among successful district councilors. (Bloomberg)

China said it will raise penalties on violations of intellectual property rights in an attempt to address one of the sticking points in trade talks with the U.S. The country will also look into lowering the threshold for criminal punishment for those who steal IP, according to guidelines issued by the government on Sunday. The U.S. wants China to commit to cracking down on IP theft and stop forcing U.S. companies to hand over their commercial secrets as a condition of doing business there.


Source: Danareksa Sekuritas Debt Service
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