· Asia Pacific stocks mixed after China approves security bill for Hong Kong
Stocks in Asia Pacific were mixed on Friday as investors watched for market reaction to China’s controversial national security law for Hong Kong that was approved on Thursday.
Mainland Chinese stocks edged higher on the day, with the Shenzhen component up 0.869% to about 10,746.08 while the Shanghai composite gained 0.22% to around 2852.35.
Hong Kong’s Hang Seng index dipped 0.7%, as of its final hour of trading, as shares of HSBC fell 2.97%.
In Japan, the Nikkei 225 declined 0.18% on the day to 21,877.89 as shares of robot maker Fanuc fell 2.76%. The Topix index also shed 0.87% to close at 1,563.67.
South Korea’s Kospi fnished its trading day slightly higher at 2,029.60. Australia’s S&P/ASX 200 declined 1.63% to close at 5,755.70 as shares of major banks such as Commonwealth Bank of Australia and Westpac dropped.
Overall, the MSCI Asia ex-Japan index dipped 0.17%.
· China stocks end higher as stimulus hopes offset Sino-U.S. worries
China stocks edged up on Friday to end the week higher, as expectations that Beijing would take necessary measures to underpin the world’s second-largest economy overshadowed concerns over escalating Sino-U.S. tensions.
At the close, the Shanghai Composite index was up 0.22% at 2,852.35, while the blue-chip CSI300 index was up 0.27%.
For the week, SSEC and CSI300 gained 1.4% and 1.1%, respectively.
· Tokyo shares snap 4-day winning streak amid U.S.-China tensions
Tokyo shares fell Friday, with both the benchmark Nikkei and Topix indexes snapping their four-day winning streaks, amid concern about worsening U.S.-China tensions over Beijing's new security law that Washington says will undermine the autonomy of Hong Kong.
The 225-issue Nikkei Stock Average ended down 38.42 points, or 0.18 percent, from Thursday at 21,877.89. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 13.67 points, or 0.87 percent, lower at 1,563.67.
Decliners were led by iron and steel, marine transportation and air transportation issues.
· European markets fall with U.S.-China tensions escalating
European markets retreated on Friday morning as escalating tensions between the U.S. and China push back on the week’s positive sentiment amid the reopening of economies across the continent.
The pan-European Stoxx 600 fell 1% at the start of trading, auto stocks dropping 3.2% to lead losses as all sectors except health care slid into negative territory.
U.S. President Donald Trump is expected to hold a press conference Friday “on China” and markets are expecting a further souring of relations between the world’s foremost economic superpowers.
Investors may also have an eye on a slew of GDP (gross domestic product) and inflation data out of the euro zone on Friday, which could offer some insight into the impact of the coronavirus pandemic.
· Thailand reports 11 new coronavirus cases, no new deaths
Thailand confirmed 11 new coronavirus cases on Friday and no new deaths, taking the number of infections to 3,076.
The new cases were all patients who had arrived from Kuwait and were in quarantine, said Taweesin Wisanuyothin, a spokesman for the government’s Centre for COVID-19 Situation Administration.
The coronavirus has killed 57 people in Thailand since it was first detected in January.
Reference: CNBC, Reuters
Thai
Eng