Asia Pacific stocks trade mixed as U.S.-China tensions weigh on sentiment
Stocks in Asia Pacific traded mixed Thursday morning as investors continued to watch tensions between the U.S. and China.
In Japan, the Nikkei 225 slid 0.26% in early trade while the Topix index shed 0.33%. South Korea’s Kospi advanced 0.96%.
Shares in Australia edged higher as the S&P/ASX 200 gained 0.32%.
Overall, the MSCI Asia ex-Japan index traded 0.2% higher.
On Wednesday, U.S. Secretary of State Mike Pompeo said that President Donald Trump’s administration wants to ban “untrusted” Chinese apps such as TikTok and WeChat from U.S. app stores. That development followed tensions between Washington and Beijing heating up in recent weeks.
Meanwhile, a range of issues remains unresolved among lawmakers stateside in coronavirus relief negotiations, with the White House threatening to act on its own if it fails to reach a deal with Democrats.
On the earnings front, Japanese automaker Toyota Motor is set to post its quarterly financial results on Thursday.
Reference: CNBC
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