Asian markets were mixed in early trade Friday after China threatened to retaliate if the Trump administration continues the latest tariff threats, but still held out hope for a trade deal.
Beijing will take unspecified "necessary countermeasures," China's State Council said in a one-sentence statement. It gave no details or any indication that plans for trade talks in Washington in September may be affected.
President Donald Trump has said that he plans to impose 10% tariffs on another $ 300 billion in Chinese imports from September 1, extending the penalty to almost everything the US buys from China, the Chinese announcement did not mention Trump's decision Wednesday to postpone the punishment of about 60% of those goods until December 1
Still, officials from China's foreign ministry later said they hoped a trade deal would continue to be drafted, saying Trump and President Xi Jinping have remained in touch.
Meanwhile, investors were keeping an eye on US The 30-year government bond
TMUBMUSD30Y, + 2.43%
fell to a low over time, while the return on the 10-year reference number
TMUBMUSD10Y, + 2.59%
hit a three-year low.
NIK, + 0.06%
recovered after an early dip and were last about flat, while Hong Kong's Hang Seng Index
HSI, + 0.94%
advanced 0.5%. Shanghai Composite
SHCOMP, + 0.29%
achieved 0.5% while Shenzhen Composite
399106, + 0.55%
rose 0.6%. South Korea's Kospi
fell 0.9%, while reference indices in Taiwan
Y9999, + 0.91%
JAKIDX, + 0.46%
were mixed. Australia's S & P / ASX 200
Among individual stocks, Screen Holdings
7735, + 4.20%
1605, + 1.05%
rose in trade with Tokyo, while robotics manufacturer Fanuc
falls. In Hong Kong, Ping An Insurance
2318, + 2.24%
and New World Development
17, + 6.33%
achieved while Tencent
slipped. SK Hynix
and LG Electronics
fell in South Korea, and Foxconn
2354, + 2.28%
advanced in Taiwan. In Australia, Oil Search
BPT, + 0.00%
sank while Fortescue Metals
FMG, + 2.13%
China's central bank set the daily midpoint of the yuan to 7.0312 per US dollar, the seventh consecutive session has been set lower than the seven level.