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Asian Stocks Mixed; Apple Suppliers Outperform Following iPhone 11 Reveal Event

Investing.com - Asian stocks were mixed in morning trade on Wednesday. Apple (NASDAQ:AAPL) suppliers outperformed following the iPhone 11 reveal event held overnight in the U.S.

China’s Shanghai Composite fell 0.3% by 10:37 PM ET (02:37 GMT), while the Shenzhen Component slipped 0.1%.

On the Sino-U.S. trade front, the South China Morning Post reported that China has offered to buy more U.S. agricultural products in exchange for a delay in tariffs. It also asked for the easing of a supply ban against Huawei.

Hong Kong’s Hang Seng Index gained 0.3%.

Japan’s Nikkei 225 was up 0.6%.

South Korea’s KOSPI climbed 0.7%.

Down under, Australia’s ASX 200 inched up 0.1% even after a survey conducted by Westpac Banking Corp showed consumer confidence dropped 1.7% to 98.2 in September.

“Pressure on family finances and concerns about the near-term outlook weighed on sentiment,” Westpac chief economist Bill Evans said Wednesday. “Concerns about the state of the economy, the international backdrop and employment are seeing consumers become more cautious.”

A separate survey produced by National Australia Bank showed on Tuesday that both the business sentiment and the confidence index fell in August from the previous month.

Overnight, Apple (NASDAQ:AAPL) unveiled three new iPhones at the company’s annual product roll-out event in California. Shares of Apple suppliers traded higher in Asia today, with Japan-listed Sharp jumping almost 5%, with South Korea’s LG Display and Hong Kong-listed AAC Technologies gaining 1.8% and 1.9% respectively. Taiwan’s Largan Precision climbed 2.8%.

Reports that U.S. President Donald Trump has fired national security adviser John Bolton received some focus. The decision came as Trump “disagreed strongly with many of his suggestions,” according to the president’s tweet.

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