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 1.3 percent to 22,483.13 and South Korea’s Kospi gained 0.8 percent to 2,302.32. Hong Kong’s Hang Seng index added 0.3 percent to 28,578.86. But Shanghai Composite Index in mainland China fell 0.6 percent to 2,821.73. In Australia, S&P-ASX 200 dipped 0.2 percent to 6,255.10. Stocks in Singapore, Taiwan and other Southeast Asian markets were higher.
ANALYST’S TAKE: Despite recent escalations in trade battles, “the sky hasn’t fallen just yet as optimism crept back into the market,” said Stephen Innes, OANDA’s head of trading in Asia Pacific region. “The broader market continues to remain in wait and see mode for further details on how China might retaliate on trade.”
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)
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 the dispute that led to tariff hikes on each other’s goods.
WALL STREET: U.S stocks finished higher on Thursday led by