SEOUL, South Korea (AP) – Asian shares are mostly higher, rebounding from jitters over the U.S.-China trade disputes for a second straight day.
KEEPING SCORE: Japan’s Nikkei 225 jumped 1.9 percent to 22,597.35, helped by a weakening in the yen against the U.S. dollar, which helps blue chip manufacturers. South Korea’s Kospi advanced 1.1 percent to 2,310.90 and Hong Kong’s Hang Seng index added 0.2 percent to 28,546.91. But the Shanghai Composite Index fell 0.2 percent to 2,831.15. Australia’s S&P-ASX 200 was flat at 6,268.40. Stocks in Singapore, Taiwan and other Southeast Asian markets were higher.
CHINA TRADE DATA: China’s June trade grew by double digits amid mounting tension with Washington but Beijing warned its exporters face “rising instabilities and uncertainties.” Exports rose 11.3 percent over a year earlier to $216.7 billion, down from May’s 12.6 percent growth, customs data showed Friday. Imports expanded by 14.1 percent to $175.1 billion, down from the previous month’s 26 percent.
Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, July 13, 2018. Asian stock markets were mostly higher on Friday rebounding from jitters over the U.S.-China trade disputes for a second straight day. (AP Photo/Ahn Young-joon)
US-CHINA TRADE: China has yet to give details on what kind of “firm and forceful measures” it would use to respond to the fresh round of potential tariff hikes on $200 billion of goods announced by the U.S. on Tuesday. But Beijing stepped up pressure on Washington by suggesting that U.S. companies lobby American leaders. The U.S. and China are yet to resume negotiations over