Stocks in the Asia-Pacific region closed mostly in the red on Friday, as investors digested US-China trade developments after news that both countries agreed to roll back tariffs in phases on each other’s goods as they work toward a deal. On Thursday, China’s Ministry of Commerce spokesman Gao Feng said “In the past two weeks, top negotiators had serious, constructive discussions and agreed to remove the additional tariffs in phases as progress is made on the agreement,” and White House economic adviser Kudlow confirmed the advance in negotiations. On the economic front, latest data showed China’s exports and imports fell less than expected in October.