Asian equity markets ended mixed on Wednesday, with investors largely staying on the sidelines and refraining from making significant moves due to lack of triggers. The overnight positive close on Wall Street set up a higher opening for the markets, but lack of support at higher levels resulted in some of these settling down in negative territory. Chinese shares ended lower, weighed down by losses in technology and retail stocks. The mood was a bearish on reports the US would start collecting 25 percent tariffs on an additional $16 billion worth of Chinese goods this month. The world's largest economy is targeting tariffs on Chinese goods worth $50 billion. In economic news, China's exports growth exceeded expectations in July, despite the US tariffs on Chinese goods. Further, Japanese shares ended lower as the market braced for the start of US-Japan trade talks the next day, offsetting gains in companies which posted strong results such as Nikon and Daikin.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,745.11 | -34.26 | -1.25 |
Hang Seng | 28,359.14 | 110.26 | 0.39 |
Jakarta Composite | 6,094.83 | 3.58 | 0.06 |
KLSE Composite | 1,804.73 | 13.64 | 0.76 |
Nikkei 225 | 22,644.31 | -18.43 | -0.08 |
Straits Times | 3,326.74 | -13.26 | -0.40 |
KOSPI Composite | 2,301.45 | 1.29 | 0.06 |
Taiwan Weighted | 11,075.25 | 91.81 | 0.83 |
