Korea Leads Gains in Mixed Asia Trading

Stocks in Asia Pacific were mixed on Thursday as investors continued to monitor tensions between the U.S. and China.

In Japan, the Nikkei 225 dropped 96.7 points, or 0.4%, to 22,418.15,

In Hong Kong, the Hang Seng stumbled 171.96 points, or 0.7%, to 24,930.58.

Korean indexes rallied as shares of automaker Hyundai Motor soared 7.8%.

On the earnings front, Japanese automaker Toyota Motor reported that first-quarter net income attributable to the company plunged 74.3% from last year. Shares of Toyota jumped 2.29% on Thursday.

Shares of Singapore bank DBS Group rose 2.9% on Thursday after the firm reported a second-quarter net profit that beat estimates despite falling about 22% from last year. DBS said its profit for the second quarter came in at 1.25 billion Singapore dollars ($912.9 million U.S.).

That compared against an average estimate of 1.19 billion Singapore dollars.

The Japanese yen traded at 105.58 per U.S. dollar after seeing an earlier high of 105.37 against the greenback.

The Australian dollar changed hands at $0.7192 following its rise from levels below $0.715 this week.

CHINA

The CSI 300 faded 14.35 points, or 0.3%, to 4,762.76.

On Wednesday, U.S. Secretary of State Mike Pompeo said that President Donald Trump’s administration wants to ban “untrusted” Chinese apps such as TikTok and WeChat from U.S. app stores. That development followed tensions between Washington and Beijing heating up in recent weeks.

In other markets

In Singapore, the Straits Times Index gained 26.41 points, or 1%, to 2,559.10.

In Korea, the Kospi acquired 30.75 points, or 1.3%, to 2,342.61

In Taiwan, the Taiex index popped 111.2 points, or 0.9%, to 12,913.50

In New Zealand, the NZX 50 regained 6.87 points, or 0.1%, to 11,764.59

In Australia, the ASX 200 recovered 40.89 points, or 0.7%, to 6,042.19