Asian stocks trade in tight range, Japan edges up

Asian stocks swung between small gains and losses as investors adopted a wait-and-watch approach on tariff negotiations before taking long-term bets.

Stocks fluctuated at the open with modest gains in Japan while most of the other markets are shut for the Good Friday holiday. US equities posted a weekly loss amid disappointment over Jerome Powell’s push back on the idea of the Federal Reserve supporting markets. Treasuries fell on Thursday to pare a weekly advance, while the dollar dropped and headed for a third week of losses.

US indexes have been stuck in a range as traders focused more on developments in country-specific trade negotiations, seeking clues on how the tariffs will pan out. Key questions surround China, after Beijing indicated Wednesday it has several conditions for agreeing to talks with President Donald Trump’s administration.

Trump said he was reluctant to continue ratcheting up tariffs on China because it could stall trade between the two countries, and insisted Beijing had repeatedly reached out in a bid to broker a deal. Still, the administration took steps to impose levies on Chinese vessels docking at US ports, threatening to shake up global shipping routes and escalate the trade war between the world’s two biggest economies.