(Bloomberg) -- Asian stocks notched up small gains as investors largely adopted a wait-and-watch approach on tariff negotiations before taking long-term bets.

Most Read from Bloomberg

The Nikkei-225 gauge in Japan advanced 1%. Shares in mainland China were little changed, paring earlier losses that were caused by a US plan to impose levies on Chinese vessels docking at its ports. The New Zealand dollar extended a decline from a five-month high. Most of the other markets in the region were shut for the Good Friday holiday.

Traders are focused more on developments in country-specific discussions, seeking clues on how the tariffs will pan out. After the “big progress” in the Japan-US talks, President Donald Trump said he’s “very confident” of a deal with the European Union. Questions surround the status of China talks after Beijing indicated it has several conditions for agreeing to talks with the administration.

“Trump was not negative on trade negotiations with the EU,” said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co. “The Japan-US negotiations that ended yesterday were also a good first round with no disturbance as currency exchange was not on the agenda.”

The yen was little changed Friday after weakening in the prior session as Japan’s top negotiator said currencies weren’t discussed in the bilateral meeting. That allayed concerns a stronger exchange rate would be part of the US demands.

While Trump didn’t offer details of any agreement with the EU, he was decisive on a critical US-Ukraine minerals accord, saying a deal would be signed next week. The president also 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.

Shipping stocks in Japan and South Korea such as Kawasaki Kisen Kaisha Ltd. and HMM Co. rose on the news.

Trump’s tariff deluge has prompted some Chinese clients to reduce their Treasuries holdings in favor of European debt, according to Deutsche Bank AG. European high-quality bonds, Japanese government bonds and gold are likely to be the potential choices for investors as alternatives to Treasuries, said Lillian Tao, head of the bank’s macro and global emerging market sales.