Asian markets were mostly higher in early trading Wednesday, following gains on Wall Street after stocks started the week down on fears of an escalating trade war between the U.S. and China.
President Donald Trump on Tuesday downplayed tensions, calling the situation a “little squabble” and stressing what a good relationship he has with China’s President Xi Jinping. But he also hinted at imposing 25% tariffs on another $325 billion of Chinese goods — essentially everything China exports to the U.S.
was last about flat. Hong Kong’s Hang Seng Index
rose 0.7% while the Shanghai Composite
advanced about 1%. South Korea’s Kospi
advanced 0.6%, and Taiwan’s Taiex
jumped 0.8%, while benchmark indexes in Singapore
were about flat. Australia’s S&P/ASX 200
Among individual stocks, Nissan Motor
plunged after posting its worst fiscal-year earnings in 11 years Tuesday, and warned of more losses to come. Elsewhere in Tokyo trading, Takeda Pharmaceutical
sank, as did Yahoo Japan
. In Hong Kong, food processor WH Group
, which has been battered amid a swine fever outbreak, rose. Insurer AIA Group
and oil producer CNOOC
also gained. LG Electronics
rose in South Korea, as did Taiwan Semiconductor
in Taiwan. BHP
advanced in Australia, along with Rio Tinto
and Beach Energy
Providing critical information for the U.S. trading day. Subscribe to MarketWatch’s free Need to Know newsletter. Sign up here.