Asia trades mixed as COVID-19 cases top 22M

Tuesday, 18. August 2020 07:39

Major stock markets in the Asia-Pacific region traded mixed on Tuesday as the coronavirus crisis continued to take its toll, with global positive cases surpassing 22 million. Tensions between the United States and China mounted further, as Trump insisted his country doesn't want to use Huawei equipment at all. Furthermore, Oracle Corp. has reportedly started talks about acquiring TikTok's US business from Chinese ByteDance.

In other business news, Toyota Motor Corp. signed an agreement with Amazon to develop cloud technology, while reported strong earnings for the first half of 2020. Lastly, China's Shenzhen has become the first city in the world with full coverage of the 5G network.

The Nikkei 225 lost 0.25% at 7:17 am CET, while South Korea's Kospi fell 1.01% at 7:27 am CET. In mainland China, the Shanghai Composite rose by 0.33%, and the Shenzhen Composite gained 0.62% at 7:10 am CET. Australia's S&P/ASX 200 increased by 0.96% at 7:18 am CET, with Hong Kong's Hang Seng making slight losses at 7:28 am CET. The dollar extended losses by declining 0.37% against the yen, selling for ¥105.6225 at 7:29 am CET.

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