|Day's Range||21,282.65 - 21,430.06|
|52 Week Range||18,948.58 - 24,448.07|
Chinese stock markets fell in early trading Monday amid increasing trade tensions with the U.S., while markets in most of the rest of Asia gained.
Stocks in Japan erased gains, while they declined in China and Hong Kong. Australian stocks outperformed. In India, stock futures surged as exit polls showed Prime Minister Narendra Modi is poised to retain power.
Japan's Nikkei share average edged higher on Monday as domestic economic growth in the first quarter proved firmer than expected, although market gains were limited as the data also pointed towards lacklustre ...
Stocks in Asia were mostly higher on Monday despite rising tensions between the U.S. and China. Shares stateside slipped last Friday on the back of reports that trade negotiations between the U.S. and China have hit a pause. The ASX 200 in Australia rose in morning trade, with the country's incumbent government headed for a surprise win at the polls.
Chinese media contend that U.S. negotiators aim to thwart China’s rise, just as they ended Japan’s ascendancy 34 years ago, via an unfavorable deal.
Taiwan Semiconductor Manufacturing Co Ltd said it will maintain supplies for the time being even though it was assessing the impact of Washington's decision, the report said. Innolux Corp, which supplies screen to Huawei, said it will have an impact, but it was hard to determine its scope and that its shipping schedule for Huawei remained unchanged, according to the report.
Stocks fell broadly on Wall Street Friday as investor jitters over the heated trade war between the world's two biggest economies overshadowed encouraging developments in conflicts between the U.S. and other key trading partners.
Taiwan Semiconductor Manufacturing Co Ltd said it will maintain supplies for the time being even though it was assessing the impact of Washington's decision, the report said. Innolux Corp, which supplies screen to Huawei, said it will have an impact, but it was hard to determine its scope and that its shipping schedule for Huawei remained unchanged, according to the report. U.S. chipmakers such as Qualcomm Inc and Qorvo Inc suspended shipments on Friday, the report said, while other U.S. companies are set to follow suit as the restrictions take effect.
Applied Materials was among Friday's few early leaders as stocks skidded lower and Caterpillar and Apple dragged on the Dow Jones industrials.
Asian markets were mixed Friday, with stocks in Hong Kong and mainland China retreating amid ongoing trade tensions with the U.S.
Australia, Japan Up—Singapore, KOSPI, and Hong Kong DownHang Seng fallsHong Kong’s Hang Seng Index fell in early trading and didn’t recover until the end of the trading day. The index dropped 1.16%, or 329 points, to end the day at 27,946.46,
State-run media use print, television and social media to excoriate U.S. moves on trade, as well as its blacklisting of Huawei, suggesting the two sides are moving further away from a potential deal. Bank of Japan Governor vows to keep rates near zero until the Spring of next year, underscoring the trade war threat to growth and its impact on currency markets and the U.S. dollar.
World share markets suffered a fresh bout of selling on Friday after tough words on trade from China, while bets on a new pro-Brexit leader in Britain sent the pound sliding to its worst week in well over a year. Shanghai finished 2.5% in the red and the yuan hit its weakest in nearly five months, amid growing fallout from President Donald Trump's move to block China's Huawei from buying vital American technology. The foreboding grew further as the Communist Party's People's Daily used a front page commentary on Friday to evoke the patriotic spirit of past conflicts, saying the trade war would never bring China down.
SINGAPORE (AP) — Global markets were mostly lower on Friday amid worries that U.S. economic sanctions on Huawei may cast a pall on trade negotiations with China.
Although China has not announced any retaliatory moves against the U.S. in reaction to the move against Huawei, U.S. firms still took a hit in anticipation of a drop in business. Qualcomm was down 4%, Micron was nearly 3% lower, and semiconductor firms Qorvo and Skyworks were down 7% and 6%, respectively.
Japan's Nikkei share average jumped on Friday, led by Sony and technology shares, but ended the week with a slight loss amid concerns about rising U.S.-China trade tensions. The Nikkei rose 0.89% to 21,251 points.
Japan's stock markets are "oversold and unloved" — the opposite of those in the U.S., said Morgan Stanley, predicting that the Topix may jump as much as 15% by June 2020.
The reprieve might prove brief, however, given the fallout from President Donald Trump's move to block China's Huawei Technologies from buying vital American technology. For now, Asian markets were just happy for a break. MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.1% and off a 15-week trough, but was still down 1.8% for the week.
Shares elsewhere in Asia were mixed. Japan and Australian markets rose, while South Korean shares slipped. The Shanghai composite slipped 2.48% to close at 2,882.30 and the Shenzhen component dropped 3.15% to finish its trading day at 9,000.19.
The U.S. equities rise as strong earnings and data support the market, but the gains were capped by escalating trade tensions.
Asian markets finished mixed Thursday after President Donald Trump signed an order that would ban telecom equipment from countries considered “foreign adversaries,” in a move apparently targeted at China’s Huawei.
The South China Morning Post's Louise Moon wraps up the week in Asian markets. She joins Yahoo Finance's Julie Hyman and Adam Shapiro.