Asian markets mixed on new trade worries after Trump’s tariffs against Mexico

Asian shares were mixed Friday as trade worries continued after President Donald Trump announced additional tariffs on imports from Mexico.

Japan’s benchmark Nikkei 225 NIK, -1.30%   dipped 0.8% in early trading, while Australia’s S&P/ASX 200 XJO, -0.04%   inched down 0.1% while South Korea’s Kospi 180721, +0.22%   gained 0.4%. Hong Kong’s Hang Seng HSI, -0.32%   was down 0.1% and the Shanghai Composite SHCOMP, +0.15%   was about flat after a report found China’s manufacturing activity contracted in May as the trade war with the U.S. took its toll. Stocks rose in Taiwan Y9999, +1.11%   and Indonesia JAKIDX, +0.92%  , but fell in Singapore STI, -0.73%  .

Among individual stocks, Japanese auto makers that have factories in Mexico — such as Toyota 7203, -2.37%  , Honda 7267, -3.90%   and Mazda 7261, -6.74%  — tumbled in Tokyo trading after Trump announced his new tariffs. Oil producer Inpex 1605, -3.57%   also fell. In Hong Kong, Tencent 700, +1.42%   and Sunny Optical 2382, +3.48%   gained while property names such as Wharf Real Estate 1997, -3.03%   and New World Development 17, -2.53%   fell. Auto makers Hyundai Motor 005380, -1.11%   and Kia 000270, -4.85%   declined in South Korea, while Taiwan Semiconductor 2330, +1.95%   gained in Taiwan. Beach Energy BPT, -2.81%   and Westpac Banking WBC, -0.81%   slipped in Australia.

Major U.S. stock indexes capped a day of listless trading with modest gains Thursday, snapping the market’s two-day losing streak.

The S&P 500 index SPX, +0.21%   rose 5.84 points, or 0.2%, to 2,788.86. The Dow Jones Industrial Average DJIA, +0.17%   gained 43.47 points, or 0.2%, to 25,169.88. The Nasdaq COMP, +0.27%  added 20.41 points, or 0.3%, to 7,567.72.

Dow Jones Industrial Average futures YM00, -0.83%   , S&P 500 futures ES00,

Read More Here...

Bookmark the permalink.