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Asia Markets: Asian markets mixed as traders weigh trade tensions vs. hopes of Fed rate cut

Asian markets were mixed in early trading Thursday as investors weighed pessimism over global trade tensions against optimism that the Federal Reserve would cut interest rates.

With no new developments on the U.S.-China trade front, the focus shifted to President Donald Trump’s threatened tariffs against Mexican imports in an effort to stop illegal immigration. U.S. and Mexican officials did not reach a deal Wednesday, but are scheduled to talk again Thursday in an effort to head off the 5% levies scheduled to take effect Monday. U.S. officials said progress had been made, but Trump tweeted it was “not nearly enough.”

The Dow Jones Industrial Average DJIA, +0.82% , S&P 500 SPX, +0.82% and Nasdaq Composite COMP, +0.64% all rose during Wednesday trading amid rising hopes that the Fed will cut interest rates this year, partly in response to the economic impact of rising trade tensions.

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