Asian markets were generally higher in early trading Monday, as investors continued to digest recent economic data from the U.S. and China.
On Sunday, a new report showed China’s trade with the U.S dropped sharply in August, as new tariffs by both sides were announced. Imports of American goods tumbled 22% in August from a year earlier to $10.3 billion, customs data showed Sunday, according to the Associated Press. Exports to the United States, China’s biggest market, sank 16% to $44.4 billion.
More tariffs went into effect on Sept. 1, and the next round of tariffs on Chinese goods is scheduled to take effect Oct. 15. Last week, the U.S. and China said they have agreed to renew trade negotiations in early October.
Japan’s Nikkei NIK, +0.50% rose 0.4% while Hong Kong’s Hang Seng Index HSI, -0.02% slipped 0.1%, as pro-democracy protests continued over the weekend. The Shanghai Composite SHCOMP, +0.23% gained 0.4% and the smaller-cap Shenzhen Composite 399106, +0.70% advanced 0.8%. South Korea’s Kospi 180721, +0.63% rose 0.6%, while benchmark indexes in Taiwan Y9999, +0.06% , Singapore STI, +0.14% and Indonesia JAKIDX, +0.17% made slight gains. Australia’s S&P/ASX 200 XJO, +0.08% edged up 0.1%.
Among individual stocks, convenience-store chain FamilyMart 8028, +4.45% rose in Tokyo trading, as did telecom company NTT Docomo 9437, +1.84% , while SoftBank 9984, -0.96% fell. In Hong Kong, PetroChina 857, +3.76% and Sunny Optical 2382, +1.63% gained, while property developers such as New World 17, -1.17% sank. Samsung 005930, +1.19% advanced in South Korea, while Beach Energy BPT, -1.41% declined in Australia.
Add Comment