Stocks in Asia Pacific were mixed on Monday as tensions between the U.S. and China continue to weigh on investor sentiment.
In Japan, the Nikkei 225 removed 192.68 points, or 0.8%, to 23,096.75.
Japan’s economy shrank 27.8% on an annualized basis in April-June, according to government data released Monday. That was the sharpest contraction on record. The preliminary reading for Japan’s second-quarter gross domestic product compared against economists’ median estimate of a 27.2% decline.
The Japanese yen traded at 106.49 per U.S. dollar, weakening from levels below 106.4 against the greenback last week.
In Hong Kong, the Hang Seng regained 164.33 points, or 0.7%, to 25,347.34.
Shares of Chinese smartphone maker Xiaomi surged 5.61% after Friday’s announcement of the stock’s inclusion into the Hang Seng Index with effect from Sept. 7.
The Australian dollar changed hands at $0.7173 after touching the $0.711 handle last week.
CHINA
The CSI 300 jumped 110.6 points, or 2.4%, to 4,815.23.
U.S. President Donald Trump issued an executive order Friday forcing China’s ByteDance to sell or spin off its U.S. TikTok business within 90 days. In his order, Trump cited "credible evidence" that ByteDance "might take action that threatens to impair the national security of the United States."
Meanwhile, media reports circulated over the weekend that a planned U.S.-China trade deal review initially set for Saturday was delayed with no new date agreed upon, citing sources familiar with the plans. The sources told media sources that the delay was due to scheduling conflicts as well as to give time for more Chinese purchases of U.S. exports.
Those developments came as tensions between Washington and Beijing have heated up in recent weeks.
In other markets
Markets in Korea were shuttered for holiday.
In Singapore, the Straits Times Index subtracted 9.77 points, or 0.4%, to 2.571.55.
In Taiwan, the Taiex index popped 160.65 points, or 1.3%, to 12,965.11
In New Zealand, the NZX 50 leaped 220.81 points, or 1.9%, to 11,672.95
In Australia, the ASX 200 dumped 49.87 points, or 0.8%, to 6,076.38.
