U.S. markets were closed for the Labor Day holiday, draining some of the energy from global trading. Benchmarks in London, Paris and Shanghai advanced. Tokyo and Hong Kong declined.
"The short-lived truce will probably provide limited relief," said Zhu Huani of Mizuho Bank in a report. "Businesses have become increasingly uncertain about future prospects, evidenced by the pullback in business investment amidst growing concerns on growth." In Asia, the Shanghai Composite Index gained 1.3% to 2,924.11 while Tokyo's Nikkei 225 shed 0.4% to 20,620.19. Hong Kong's Hang Seng lost 0.4% to 25,626.55. Seoul's Kospi ended 1 point higher at 1,969.19 and Sydney's S&P-ASX 200 retreated 0.4% to 6,579.40. New Zealand and Taiwan gained while Southeast Asia markets retreated.
The U.S. is pressing China to narrow its trade surplus and roll back plans for government-led creation of companies that can compete globally in robotics and other industries. China's trading partners say those violate its free-trade obligations and are based on stealing or pressuring companies to hand over technology.