Asian shares mixed as investors wait for concrete developments on US-China trade

Asian shares were mixed on Wednesday as investors look for concrete developments on U.S.-China trade as the threat of increased tariffs looms.

Asian Shares

  • Mainland Chinese stocks shed gains from an earlier recovery to end their trading day lower, with the Shanghai composite declining 0.13% to about 2,903.19 and the Shenzhen component slipping 0.3% at 9,648.39. The Shenzhen composite also fell 0.227% to around 1,602.
  • Hong Kong’s Hang Seng index was more than 0.1% higher, as of its final hour of trading.
  • Elsewhere, the Nikkei 225 in Japan rose 0.28% to close at 23,437.77, while the Topix index gained 0.31% to end its trading day at 1,710.98. South Korea’s Kospi also advanced 0.31% to close at 2,127.85.
  • The broader MSCI Asia ex-Japan index traded 0.35% higher.
  • Overnight on Wall Street, stocks hit another record.
  • The Dow Jones Industrial Average advanced 55.14 points to close at 28,121.68.
  • The S&P 500 finished its trading day 0.2% higher at 3,140.50.
  • The Nasdaq Composite also added nearly 0.2% to close at 8,647.93.

Currencies

  • The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 98.329 after seeing an earlier low below 98.3.
  • The Japanese yen traded at 109.16 against the dollar after weakening from levels around 108.9 yesterday.
  • The Australian dollar changed hands at $0.6778 after seeing an earlier low of $0.6769.

Oil

  • Oil prices slipped in the afternoon of Asian trading hours, with international benchmark Brent crude futures down 0.11% to $64.20 per barrel.
  •  U.S. crude futures also declined 0.17% to $58.31 per barrel.

Source – Investing.com

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