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Home / Business / Asian markets interfered with conflicting trade announcements from China

Asian markets interfered with conflicting trade announcements from China



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

5.

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.

Japan's Nikkei

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

180721, -0.58%

fell 0.9%, while reference indices in Taiwan

Y9999, + 0.91%

Singapore

STI, -0.37%

and Indonesia

JAKIDX, + 0.46%

were mixed. Australia's S & P / ASX 200

XJO, -0.04%

slipped 0.1%.

Among individual stocks, Screen Holdings

7735, + 4.20%

and Inpex

1605, + 1.05%

rose in trade with Tokyo, while robotics manufacturer Fanuc

6954, -0.77%

falls. In Hong Kong, Ping An Insurance

2318, + 2.24%

and New World Development

17, + 6.33%

achieved while Tencent

700, -1.21%

slipped. SK Hynix

000660, -0.65%

and LG Electronics

066570, -0.33%

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%

jumped.

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. [19659031]
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