Asian stocks bounced back to recover on the last trading day of the week, with most markets finishing the session higher. Investors were watching developments on the trade front as a deadline for tariffs from the U.S. and China to take effect passed on Friday.
In Japan, the Nikkei 225 gained 241.15 points, or 1.1%, to 21,788.14, ending a string of three straight declines, as most sectors rebounded
In Hong Kong, the Hang Seng recouped 133.53 points, or 0.5%, to 28,315.62
Australian markets enjoyed gains, owing in part to convincing gains in the materials and telecommunications sectors.
Singapore docked some of its strength, as real-estate stocks dragged the benchmark lower after the government implemented property cooling measures.
CHINA
In Shanghai, the CSI 300 regained 22.68 points, or 0.7%, to 3,365.12
After a tense leadup to the July 6 deadline for U.S. and China tariffs to take effect, markets will be watching for potential developments on the trade front. U.S. tariffs on $34 billion worth of Chinese goods from 818 product categories that took effect earlier this morning, while China implemented retaliatory tariffs on some imports from the U.S. in response.
The Chinese government said earlier this week that it would not "fire the first shot" in its trade dispute with the U.S.
Trump on Thursday said an additional $16 billion of Chinese products will be subject to tariffs in two weeks, also adding that he was considering more duties on $500 billion in Chinese goods.
Concerns about trade tensions between the U.S. and its trading partners, including China, spiraling into a trade war that could hurt economic growth have weighed on investor sentiment in Asia in recent sessions, with regional markets closing lower on Thursday.
Chinese equity markets have taken a knock in recent weeks, with the benchmark Shanghai composite wallowing in bear market territory since last week. One expert also attributed weakness in mainland stocks to tighter liquidity in markets there, although trade frictions have compounded nervousness.
In other markets
In Singapore, the Straits Times Index declined 64.89 points, or 2%, to 3,191.82
In Taiwan, the Taiex index dropped 3.24 points to 10,608.57
In Korea, the Kospi index recovered 15.32 points, or 0.7%, to 2,272.87
In New Zealand, the NZX 50 gained 21.18 points, or 0.2%, to 9,084.04
In Australia, the ASX 200 added 56.77 points, or 0.9%, to 6,272.29
