Asian markets mixed as a result of Trump's tariff approvals on China

Asian stocks traded rough Friday after sharp declines the day before as trade between the United States and China continued to dominate trade.

Nikkei from Japan

NIK, -0.79%

gained 0.5% even though the yen

USDJPY, -0.05%

pink. The pharmaceutical sector grew by 1.3% and agriculture by 0.7%, but banks fell by 0.2%.

Japanese central bankers maintained their policy of easing, keeping the short-term interest rate at -0.1% and its target for 10-year government bond yield at around 0% . The decision comes just a day after the European Central Bank announced plans to end its quantitative easing program in December, but that it will keep rates at record levels at least until the end of the year. next summer.

The reports indicate that the United States is preparing for a second wave of tariffs on China, after having almost completed a list of levies on Chinese goods worth $ 100 billion. The report comes after US President Donald Trump would have approved the first round of $ 50 billion tariffs on Chinese goods, although it is unclear when the move would come into effect . Beijing has responded to the approval saying that it will impose its own taxes on $ 50 billion of US products.

In Chinese markets, the Shenzhen index

399106, -1.20%

reached a four-month low in the last two days, ending Friday down 1.7%. The Shanghai Composite

SHCOMP, -0.94%

dropped in 13 of the previous 18 days, grazing 2018 lower. The implementation of the tariffs "is not a surprise because there has been a cloud that has increased since March," noted Tai Hui, chief market strategist at JPMorgan Asset Management.

Hong Kong Stocks

HSI, -0.90%

dropped 0.4% as a Tencent heavyweight

0700, -0.16%

abandoned the first gains to finish down by almost 0.5%. Kospi from Korea

SEU, -0.59%

dropped 0.8% although construction names strengthened.

XJO, + 0.54%

increased by 1.3%, boosted by basic consumption. But the NZX 50 from New Zealand

NZ50GR, + 0.09%

which had recorded seven record closures over the past nine days, just ended in the red.

Most markets in Southeast Asia were closed Friday for the end of Ramadan.