Stocks in Asia Pacific were mixed on Thursday as mounting U.S.-China tensions weighed on investor sentiment.
In Tokyo, the Nikkei 225 leaped 497.08 points, or 2.3%, to 21,916.31, as shares of index heavyweight Fast Retailing jumped 3.7%
The Japanese yen traded at 107.81 per U.S. dollar after weakening from levels below 107.6 yesterday
The Hang Seng index in Hong Kong sank 168.60 points, or 0.7%, to 23,132.76, with shares of Chinese tech giant Tencent dropping 3%
Australian indices posted strong gainss after Reserve Bank of Australia Governor Philip Lowe told lawmakers that “it is possible that the economic downturn will not be severe as earlier thought.”
The Australian dollar changed hands at $0.6619 after dropping from levels above $0.665 yesterday.
CHINA
In Shanghai, the CSI 300 poked higher 11.02 points, or 0.3%, to 3,856.03.
Developments on U.S.-China relations likely continued to be monitored by investors, as tensions between the two economic powerhouses mount.
U.S. Secretary of State Mike Pompeo told Congress on Wednesday that Hong Kong was no longer autonomous from China, raising questions over the special administrative region’s favorable trade relationship with the U.S. as well as opening up the possibility of sanctions on Chinese officials.
Pompeo’s comments came following the proposal of a national security law from Beijing that has spurred protests in Hong Kong.
The House of Representatives on Wednesday also passed legislation condemning China for the detention and torture of Uighur Muslims in the country’s western region of Xinjiang.
In other markets
In Korea, the Kospi eased back 2.66 points, or 0.1%, to 2,028.54
In Taiwan, the Taiex index slid 70.47 points, or 0.6%, to 10,944.19
In Singapore, the Straits Times Index deleted 4.24 points, or 0.2%, to 2,515.24.
In New Zealand, the NZX 50 erased 192.5 points, or 1.7%, to 10,856.69.
In Australia, the ASX 200 regained 76.09 points, or 1.3%, to 5,851.10.
