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Asian stocks mixed amid trade concerns

Published: May 17, 2019 11:27:17 | Updated: May 20, 2019 13:05:36


File Photo (Collected)

Asian stocks were mixed on Friday amid worries that US economic sanctions on Huawei would cast a pall on trade negotiations with China.

Hong Kong’s Hang Seng shed 0.4 per cent to 28,161.89 while Japan’s benchmark Nikkei 225 jumped 1.6 per cent to 21,391.53. The Kospi in South Korea added 0.2 per cent to 2,072.27.

The Shanghai Composite lost 1.0 per cent to 2,926.27 and Australia’s S&P ASX 200 advanced 0.7 per cent to 6,374.80. Shares rose in Taiwan but fell in Singapore and Indonesia, reports AP.

The broad S&P 500 index climbed 0.9 per cent to 2,876.32 on Thursday. The Dow Jones Industrial Average rose 0.8 per cent to 25,862.68 and the Nasdaq composite rebounded 1.0 per cent to 7,898.05.

The Russell 2000 index of smaller company stocks was 0.6per cent higher at 1,557.24.

Benchmark US crude gained 45 cents to $63.32 a barrel in electronic trading on the New York Mercantile Exchange. It picked up 85 cents to $62.87 per barrel on Thursday.

Brent crude, the international standard, added 39 cents to $73.01 per barrel.

The dollar edged up to 109.86 Japanese yen from 109.85 yen late Thursday. The euro strengthened to $1.1181 from $1.1178.

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