Asian equity markets ended mostly higher on Friday despite concerns that an escalation of trade tensions could harm global growth. Chinese shares finished sharply higher, after China's central bank lowered its yuan midpoint for the seventh straight trading day. Investors believe the yuan's slide will cushion the impact on exporters from the planned next round of US tariffs. However, Japanese shares ended a choppy session lower after China allowed its yuan currency to slide further to its lowest level in a year, stoking concerns that China could turn a trade war into a currency war. In economic news, Japan's consumer price inflation rose 0.7 percent year-on-year in June, the Ministry of Internal Affairs and Communications said. That was unchanged from the May reading, although it was shy of expectations for 0.8 percent.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,829.15 | 56.60 | 2.00 |
Hang Seng | 28,224.48 | 213.62 | 0.76 |
Jakarta Composite | 5,872.78 | 1.70 | 0.03 |
KLSE Composite | 1,754.67 | -4.57 | -0.26 |
Nikkei 225 | 22,697.88 | -66.80 | -0.29 |
Straits Times | 3,297.83 | 20.25 | 0.61 |
KOSPI Composite | 2,289.19 | 6.90 | 0.30 |
Taiwan Weighted | 10,932.11 | 96.73 | 0.88 |
