White House trade adviser Peter Navarro provided a lift to sentiment, saying Trump could postpone tariffs on Chinese goods scheduled to take effect in December.

LONDON (AFP) — Asian markets turned lower on Monday as another record close on Wall Street was overshadowed by uncertainty on the China-US trade talks, while Hong Kong was also hit by fresh protests in which at least one person was shot.

Expectations Beijing and Washington will agree a mini-pact have fueled an equity rally for the past few weeks.

Hopes had been given an added boost Thursday after China said the two sides had agreed to roll back some tariffs as the negotiations progress.

But the US side sent out some confusing signals after that announcement, before US President Donald Trump denied such an agreement, leaving investors scratching their heads.

Still, White House trade adviser Peter Navarro provided a lift to sentiment, saying Trump could postpone tariffs on Chinese goods scheduled to take effect in December. The S&P 500 and Dow both ended at fresh all-time highs.

“President Trump’s speech on Tuesday at the New York Economic Club offers the perfect soapbox for (him) to make a big political splash on both the US-China trade talks and section 232 auto investigation against the EU,” said AxiTrader’s Stephen Innes.

“The president has never been known to shy away from the spotlight, so keep eyes trained on this significant event.”

Asian investors were unable to extend the winning streak.

Tokyo ended 0.3 percent lower and Singapore shed more than one percent with Seoul, Mumbai, Taipei, Jakarta and Manila also sharply lower. Sydney and Wellington edged up.