Asian stocks mingled amid ongoing concerns about US-China trade
TOKYO (AP) – Asian stocks were mixed on Friday as turbulence continued on the world market amid ongoing concerns about US-China trade conflict.
Japan's benchmark Nikkei 225 recovered early losses to be up 0.3% at 20,456.96 in morning trading. Australia's S & P / ASX 200 fell nearly 0.1% to 6,402.40, while South Korea's Kospi fell 0.8% to 1,923.56. Hong Kong's Hang Seng added 0.8% to 25,701.58. Shanghai Composite rose 0.7% to 2,834.85.
On Wall Street on Thursday, the stock indices were turned between gains and losses until a late start gave the market a modest gain. Concerns about a possible recession collided with hopes that the strongest part of the US economy ̵[ads1]1; buyers who spend stores and online – could continue.
The large US stock indices spent much of the day responding to large pulls in US government bond rates, which fell sharply at first, fluctuating large parts of the day and then recovering some of their decline in the mid-afternoon.
US government bonds have been among the highest and earliest to call out warnings about the economy.
The S&P 500 increased by 7 points, or 0.2%, to 2,847.60. The benchmark index fluctuated between 0.6% gain and 0.5% loss. A day earlier, it fell by 2.9%. The Dow Jones Industrial Average, which came out on its worst day of the year, gained 99.97 points, or 0.4%, to 25,579.39. The Nasdaq composite fell 7.32 points, or 0.1%, to 7,766.62, while the Russell 2000 Small Business Index lost 5.87 points, or 0.4%, to 1,461.65.
Markets around the world have been moving up and down for weeks. Prices for everything from stocks to gold to oil have fallen as investors swirl from one moment of uncertainty around Trump's trade war to another about what central banks will do with interest rates.
President Donald Trump again defended his trade war, saying a dissolution with China must "be honest, on our terms."
Having been hopeful earlier this year that a trade deal could be imminent between the world's two largest economies, investors are increasingly digging for the tensions to continue for several years.
"Nevertheless, the point is further that with uncertainties between the US and China we are still aware that signs of risk aversion that need not be eliminated for risk are eliminated," said Vishnu Varathan of Mizuho Bank in Singapore.
ENERGY:
Benchmark US crude oil added 62 cents to $ 55.09. It fell 76 cents to $ 54.47 a barrel Thursday. Brent crude, the international standard, rose 48 cents to $ 58.71.
CURRENCY:
The dollar was little changed at 106.20 Japanese yen, compared to 106.23 yen on Thursday. The euro depreciated to $ 1.1103 from $ 1.1150.