Asian stocks mixed as U.S-China tensions sour risk sentiment

27.05.2020 - Kulakov Vladimir
Asian stocks mixed as U.S-China tensions sour risk sentiment

Asian stocks were mixed earlier on Wednesday, weighed down by shares in the Greater China region after a second planned protest broke out in Hong Kong during the week.

Hong Kong’s Legislative Council will discuss its controversial national anthem bill, which had provoked a new round of protests in the city. The protests first sparked on Sunday after China tabled a national security law for Hong Kong and Macau at the end of the previous week.

U.S. President Donald Trump said overnight that Washington was “doing something now” about Hong Kong’s decision and would be revealed later in the week.

Fears of mounting tensions between the U.S. and China soured investor sentiment, forcing many to flock to safe-haven assets.

Hong Kong’s Hang Seng Index fell by 0.47% at 11:24 PM ET (4:24 AM GMT).

China’s Shanghai Composite slipped by 0.20%, while the SZSE Component lost 0.72%.

Japan’s Nikkei rose by 0.39%, reclaiming a portion of its losses from the previous session. The Japanese government had recently pledged a new stimulus package worth up to ¥117 trillion ($1.087 trillion). The package will be funded by a second supplementary budget that was raised from an issuance of ¥31.9 trillion in government bonds.   

South Korea’s KOSPI gained 0.20% amid speculation that the Bank of Korea would slash a key interest rate even further on Thursday.

Meanwhile, the ASX 200 gained 0.47%.

Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from Umarkets.com or Market Solutions limited." Cookies notification: “We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Continue
×

Help with deposit?