Asian markets retreat after gains, protests batter

Updated: few hours ago

Hong Kong, Jun 12 (AFP) Asian markets fell Wednesday after two days of healthy gains with Hong Kong the worst performer, sinking two percent as a huge protest paralysed key roads in the city and a number of local businesses shut up shop.

Profit takers moved in while investors keep a nervous eye on developments in the China-US trade saga and an expected meeting between Donald Trump and Xi Jinping at the G20 summit in Japan this month.

The US president repeated on Tuesday that he expects to hold a face-to-face meeting with his Chinese counterpart on Osaka and said Beijing wanted a deal "very badly".

US Commerce Secretary Wilbur Ross tempered expectations the leaders would reach an agreement by saying the meeting could lead to progress but not a "definitive agreement". However, he said he was confident an agreement would be reached eventually.