Stocks in Asia were inconsistent on Friday as China’s manufacturing data fell below analysts’ expectations.
In Japan, the Nikkei 225 withered 341.34 points, or 1.6%, to 20,601.19.
In Japan, Nissan dropped 5.3% and Toyota declined 2.9%. The Japanese yen traded at 108.82 against the dollar after seeing an earlier low of 109.62
In Hong Kong, the Hang Seng slumped 213.79 points, or 0.8%, to 26,901.09
Shares of automakers in Asia took a hit from the tariff announcement, with many using Mexico as a production base to manufacture vehicles for export, according to data from Mexico’s auto industry association AMIA.
South Korea’s Kia Motors fell 4.5%.
The Australian dollar changed hands at $0.6910 U.S. after seeing a prior low of $0.6898.
CHINA
In Shanghai, the CSI 300 index dropped 11.39 points, or 0.3%, to 3,629.79
The official manufacturing Purchasing Managers’ Index (PMI) for May came in at 49.4, versus expectations of 49.9 by economists. PMI readings above 50 indicate expansion, while those below that signal contraction.
The ongoing trade fight between the U.S. and China also continues to weigh on markets, following a recent escalation in rhetoric.
Chinese Vice Foreign Minister Zhang Hanhui said Thursday that provoking trade disputes amounted to “naked economic terrorism.” Also,
China has reportedly halted soy purchases from the U.S.
In other markets
In Korea, the Kospi index poked ahead 2.94 points, or 0.1%, to 2,041.74
In Singapore, the Straits Times Index fell 25.24 points, or 0.8%, to 3,117.76
In Taiwan, the Taiex Index hiked 115.5 points to 1.1%, to 10,498.49
In New Zealand, the NZX 50 regrouped 46.01 points, or 0.5%, to 10,117.99
In Australia, the ASK 200 nosed up 4.73 points, or 0.1%, to 6,396.85
