[ad_1]
TOKYO (AP) – Stocks were mostly higher in Asia on Friday in volatile market conditions as Chinese mainland stocks rebounded by more than 3% as regulators apparently intervened to shore up markets.
The Shanghai Composite index rose 3.1% to 2,939.21, while the A shares index on the smaller Shenzhen market jumped 3.8%. Traders said Chinese institutional investors stepped up their purchases to support the market with increased liquidity.
Hang Seng of Hong Kong rose 1.0% to 28,580.39 while Japanese Nikkei 225 lost 0.3% to finish at 21,344.92. The Australian S & P / ASX 200 rose nearly 0.3% to 6,310.90. South Korea, Kospi, grew by 0.3% to 2,108.04 and India's Sensex by 37% to 37,607.97. Shares fell in Taiwan and Thailand, but rose in most other regional markets.
The Trump administration has increased tariffs on Chinese imports by $ 200 billion, from 10% to 25%. The Chinese Ministry of Commerce announced that it would take "necessary countermeasures" but gave no details. The action followed the Washington talks between US and Chinese negotiators.
According to analysts, China could increase tariffs on some US exports, although their amount does not match the costs imposed by the increase in US import duties. This could intensify interference in negotiations with US companies and in other areas.
The increased tensions, if not resolved quickly by an agreement between Beijing and Washington, could hurt growth in the region and beyond, said Rajiv Biswas of his Markit.
"The escalation of the trade war between the United States and China aggravates the already existing difficulties in the Asia-Pacific region, including the marked slowdown in new orders in the electronics sector and the weakness of new orders in the manufacturing industry of the euro area, "said Biswas.
Tensions between the world's two largest economies led to downward action on Wall Street. Trade concerns this week stifled what was the hottest start to the year for US stocks in decades.
The S & P 500 index fell 0.3% to 2,870.72. The benchmark essentially returned all of its gains in April, although it remains up 14.5% for the year.
The Dow Jones Industrial Average fell 0.5% to 25,828.36. He lost nearly 450 points in morning trading before regaining much of the ground lost.
The Nasdaq composite slipped 0.4% to 7,910.59. The Russell 2000 index of small business shares sold 0.370.06, up 0.3%.
ENERGY: The benchmark US crude has risen 45 cents to $ 62.15 a barrel in electronic trading on the New York Mercantile Exchange. It dropped 0.7% to settle at $ 61.70 a barrel day-to-day. Brent Brut, the international standard, added 41 cents to 70.80 dollars a barrel.
CURRENCIES: The dollar rose from 109.77 yen to 109.78 Japanese yen. The euro has strengthened, rising from 1.1216 dollar to 1.1228 dollar.
___
Follow Yuri Kageyama on Twitter https://twitter.com/yurikageyama
On Instagram https://www.instagram.com/yurikageyama/?hl=en
[ad_2]
Source link