Chinese stocks fall on trade war worries

Wednesday, 22. May 2019 07:45

Stocks in Asia traded mixed on Wednesday as Chinese equities dropped on concerns of an intensifying trade war with the United States. After blacklisting Huawei, reports emerged that Washington is also planning to add several other Chinese firms, including surveillance camera maker Hikvision, to its trade blacklist. Meanwhile, American companies reported the tariffs by the US and China are negatively affecting the demand for products, manufacturing costs and sales prices. Elsewhere, Japan's Finance Ministry said the country's trade surplus stood at ¥60.4 billion in April.

The Shanghai Composite fell 0.64% at 7:43 am CET and the Shenzhen Composite slid 0.63% at 7:29 am CET. Meanwhile, Hong Kong's Hang Seng added 0.10% at 7:42 am CET.

The Nikkei 225 was up 0.09% at 7:44 am CET. The dollar dipped 0.05% against the yen to sell for 110.4515 at 7:43 am CET.

In Korea, the Kospi rose 0.31% at 7:23 am CET, while Australia's S&P/ASX 200 gained 0.13% at 7:43 am CET.

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Breaking the News / NP