Asian Shares Mixed Thursday 10/17 05:59
Asian shares were mixed Thursday on renewed caution over the truce in the
tariff war between the U.S. and China.
BANGKOK (AP) -- Asian shares were mixed Thursday on renewed caution over the
truce in the tariff war between the U.S. and China.
Hong Kong initially led regional gains after its chief executive, Carrie
Lam, announced help Wednesday for the property sector. The semi-autonomous
city's economy has been languishing amid months of increasingly violent
political protests that are in part fueled by the sky-high cost of housing.
The Hang Seng index added 0.4% to 26,776.97 after rising more than 1%
earlier in the day.
Elsewhere, sentiment was tepid. Tokyo's Nikkei 225 index lost 0.1% to
22,451.86 while the Shanghai Composite index slipped 0.2% to 2,972.42.
Australia's S&P ASX 200 lost 0.8% to 6,684.70 and the Kospi in Seoul gave up
0.4% to 2,074.02. India's Sensex was flat at 38,602.70.
Shares fell in Taiwan and Singapore but inched higher in Jakarta and
Investors are awaiting the release of Chinese data on Friday that will
likely show the world's second largest economy slowed further in the
July-September quarter given the toll the trade dispute is taking on the export
Thursday's lackluster trading tracked similar action on Wall Street, where
the S&P 500 index lost 0.2% to 2,989.69. The Dow Jones Industrial Average
dropped 0.1% to 27,001.98 and the Nasdaq fell 0.3%, to 8,124.18. The Russell
2000 index of smaller stocks eked out a tiny gain, adding 1.76 points, or 0.1%,
The benchmark S&P 500 index remains 1.2% below its all-time high set in
The modest losses came as investors weighed mixed data on the economy and
the latest batch of corporate earnings reports.
A move on Tuesday by the House of Representatives to show support for the
pro-democracy protests in Hong Kong appeared to dim some investor optimism
about the prospects for progress in the latest trade talks between the U.S. and
On Friday, the U.S. agreed to suspend a planned hike in tariffs on $250
billion of Chinese goods that had been set to kick in Tuesday. Beijing,
meanwhile, agreed to buy $40 billion to $50 billion in U.S. farm products.
But in a White House news conference on Wednesday, U.S. Treasury Secretary
Steven Mnuchin told reporters that officials were still ironing out details of
their preliminary agreement.
President Donald Trump has said he does not expect to sign an agreement
until next month, when he is due to meet with Chinese President Xi Jinping at
the regional Asian Economic Cooperation, or APEC, forum in Chile in November.
In other trading, benchmark crude oil lost 48 cents to $52.88 per barrel in
electronic trading on the New York Mercantile Exchange. It rose 55 cents to
settle at $53.36 a barrel on Wednesday. Brent crude oil, the international
standard, lost 45 cents to $58.97 a barrel.
The dollar fell to 108.75 Japanese yen from 108.76 yen on Wednesday. The
euro strengthened to $1.1077 from $1.1073.