Asian stock markets mixed ahead of US-China tariff hikes

In this Aug. 22, 2018 photo, a man walks past an electronic stock board showing Japan's Nikkei 225 index and other country's index at a securities firm in Tokyo. Asian stock markets were mixed Thursday, Aug. 23, after U.S. and Chinese officials held talks on their deepening trade dispute ahead of a new round of tariff hikes. (AP Photo/Eugene Hoshiko)
In this Aug. 22, 2018 photo, a woman walks past an electronic stock board showing Japan's Nikkei 225 index and other country's index at a securities firm in Tokyo. Asian stock markets were mixed Thursday, Aug. 23, after U.S. and Chinese officials held talks on their deepening trade dispute ahead of a new round of tariff hikes. (AP Photo/Eugene Hoshiko)

BEIJING — Asian stock markets were mixed Thursday after U.S. and Chinese officials held talks on their deepening trade dispute ahead of a new round of tariff hikes.

KEEPING SCORE: Tokyo's Nikkei 225 rose 0.2 percent to 22,403.90 while Hong Kong's Hang Seng lost 0.8 percent to 27,704.60. The Shanghai Composite Index gave up 1.7 points to 2,713.02. Seoul's Kospi shed 0.1 percent to 2,271.56 and Sydney's S&P-ASX 200 retreated 0.2 percent to 6,253.00. Benchmarks in Taiwan and Southeast Asia rose while New Zealand declined.

WALL STREET: The U.S. bull market became the longest on record after tech stocks and retailers gained while industrial companies declined. The run of 3,453 days without a drop of at least 20 percent, the traditional definition of a bear market, beat the 1990s stretch that ended in the dot-com collapse in 2000. The Standard & Poor's 500 index ended down 1.1 points at 2,861.82. The Dow Jones Industrial Average slid 0.3 percent, to 25,733.60. The Nasdaq composite gained 0.4 percent to 7,889.10. Nvidia gained 3.8 percent, while Lowe's jumped 5.8 percent.

US-CHINA TRADE: U.S. and Chinese negotiators opened talks in Washington on their spiraling dispute over Beijing's technology policy as both sides prepared for more tariff hikes. Neither side released any details of the first day's talks on Wednesday or their agenda. The Trump administration is poised to impose 25 percent tariffs on $16 billion of Chinese imports on Thursday in the latest round of penalties over complaints Beijing steals or pressures foreign companies to hand over technology. China says it will respond with similar penalties against American goods.

CENTRAL BANK WATCH: Central bankers including Jerome Powell of the U.S. Federal Reserve hold an annual gathering starting Friday in Jackson Hole, Wyoming. Investors are looking ahead to Powell's keynote speech for signs of Fed views on Turkey's currency crisis and U.S.-Chinese trade tensions. If Powell sounds confident, investors would likely conclude the Fed will keep gradually raising rates.

ENERGY: Benchmark U.S. crude added 7 cents to $67.93 per barrel in electronic trading on the New York Mercantile Exchange. The contract jumped $1.02 on Wednesday to $67.86. Brent crude, used to price international oils, lost 12 cents to $74.66 per barrel in London. It rose $1.15 in the previous session to $74.78.

CURRENCY: The dollar gained to 110.80 yen from Wednesday's 110.56 yen. The euro declined to $1.1554 from $1.1595.

People also read these

Global stocks turn higher on strong economic...

Feb 21, 2017

Global stock markets are mostly higher after surveys pointed to robust economic growth in Europe...

Energy shares lead Asian markets lower on big US...

Mar 9, 2017

Asian stock markets are mostly lower after news of a big buildup in U.S. oil stockpiles depressed...

Stock markets, pound subdued as UK triggers...

Mar 29, 2017

World stock markets are subdued after Britain triggered the start of its exit from the European...

World stocks mixed; Asia drops on Chinese...

Mar 30, 2017

World stocks were mixed Thursday, with Asian indexes falling as Chinese authorities tightened...

Asian stocks slide as Trump's mounting woes...

May 18, 2017

Asian stocks slide after big Wall Street losses as Trump's mounting political woes rattle investors

About Us

Biz Daily Online gives a complete understanding of the world of business to you. Get today’s business news and learn about the trends that are affecting every business here.

Contact us: sales[at]bizdailyonline.com

Subscribe Now!