Asian equities ended today’s trading session in mixed territories following trade concerns between China and the United States.August 4, 2018
Asian equities ended today’s trading session in mixed territories following trade concerns between China and the United States. Meanwhile the U.S. Dollar traded near its highest level since two weeks.
Chinese shares were trading lower on Friday’s session as losses in Technology, Healthcare and Consumer Non-Cyclicals sectors pressured the stock market. The primary Chinese benchmarks Shanghai Composite fell by 0.97 percent or 26.94 points to end the session down at 2,741.08, and Shenzhen Composite fell 1.71 percent or 25.98 points to settle down at 1,486.05.
On the other hand, Korean shares were trading higher on Friday as the market’s main index KOSPI rose by 0.77 percent or 17.48 points to end the session in the green at 2,287.68 supported by all sectors, especially Industrials that gained 1.76 percent.
Hong Kong shares found pressure from losses in Healthcare, Consumer Cyclicals, and Consumer Non-Cyclicals sectors as they fell by 4.10, 2.91 and 1.64 percent respectively. The market’s main index Hang Seng lost 0.14 percent or 38.24 points to close the session lower at 27,676.32.
Japanese Stock Market
Japanese stocks traded higher on today’s session as the primary Japanese index Nikkei rose by 0.06 percent to close in the green at 22,525.18, supported by the gains in Telecom Services and Energy sectors as both gained 0.69 and 0.59 percent respectively.
In the market, Suzuki Motor Corp shares were the best performer in the session as it gained 8.55 percent, followed by Nippon Suisan Kaisha Ltd that rose by 4.60 percent. On the flip side, Kubota Corp stocks were the worst performer that dropped around 8.29 percent to end the session in the red.
Major exporters were mostly higher on a weaker Yen, as Panasonic added more than 3 percent, Sony gained around one percent and Canon advanced 0.2 percent. Meanwhile, Mitsubishi Electric tumbled by 0.6 percent.
Among major banks, both Mitsubishi UFJ Financial and Sumitomo Mitsui Financials fell by around one percent.
In the currency market, the Japanese Yen rose against the Greenback to trade in the green at 111.72 USDJPY at 9:30 GMT.
Australian Stock Market
Australian shares fell on Friday’s session as the country’s main index S&P/ASX200 fell by 0.10 percent or 61 points to end the session in the red at 6,234.80 pressured by losses in the Basic Materials, Telecom Services, and Financials sectors.
Meanwhile, Appen Ltd was the best performer who gained 6.54 percent to end the session in the green at 11.57. On the other hand, Lynas Corporation Ltd was the worst perfomer in the market as it lost 4.89 percent to end in the red at 2.14.
Among big four banks, all of ANZ Banking, Commonwealth Bank, Westpac and National Australia Bank lost in a range of 0.1 and 0.3 percent.
Regarding mining companies, Rio Tinto slumped, and BHP Billiton fell by one percent and 0.5 percent respectively, while Fortescue Metals rose by 0.6 percent.
In the Forex Market, the Aussie rose against the Greenback to trade higher at 0.7362 AUDUSD at 9:30 GMT.