Hong Kong (CNN Business) Asian markets mostly rose after US President Donald Trump suggested a trade deal with China is in the final stages.

Nikkei 225 N225 Kospi index KOSPI Hang Seng Index HSI Japan'srose 0.4% on Wednesday. South Korea'salso gained 0.3%. Hong Kong's benchmarkadded 0.1%.

Shanghai Composite COMP Government data released Wednesday showed that China's industrial profits declined 9.9% in October from a year earlier. That loss accelerated from a 5.3% drop in September. China'sdropped as much as 0.5% in early trading, though recouped most of those losses.Government data released Wednesday showed that China's industrial profits declined 9.9% in October from a year earlier. That loss accelerated from a 5.3% drop in September.

Trump said Tuesday in Washington that the United States was in the "final throes of a very important deal" on trade.

Markets have been sensitive to developments in the US-China trade negotiations. China's commerce ministry said Tuesday the two countries "reached a consensus" on how to resolve each other's key concerns.

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