Asia report: Most markets higher though trade concerns linger
Markets in Asia mostly finished in positive territory on Tuesday after a choppy session, as concerns about trade lingered amid ongoing tensions between China and the United States.
AUD/USD
$0.6533
23:03 26/04/24
GBP/NZD
NZD2.1025
23:53 26/04/24
Hang Seng
17,651.15
10:20 26/04/24
Nikkei 225
37,934.76
09:44 26/04/24
USD/JPY
¥158.3270
00:42 27/04/24
In Japan, the Nikkei 225 slipped 0.05% to 22,696.90, as the yen weakened 0.17% against the dollar to last trade at JPY 111.26.
On the mainland, the Shanghai Composite was 1.1% higher at 2,750.58, and the smaller, technology-heavy Shenzhen Composite managed gains of 1.16% to 1,465.79.
South Korea’s Kospi was 0.38% firmer at 2,315.72, while the Hang Seng Index in Hong Kong was 0.94% ahead at 27,973.34.
Trade was once again the focus of the day, as markets watched for Ottawa to resume negotiations with Washington after the two parties missed a US-imposed deadline of last Friday to reach an agreement.
Oil prices were higher, with Brent crude last up 1.48% at $79.32 per barrel, and West Texas Intermediate rising 1.46% to $71.13.
In Australia, the S&P/ASX 200 slid 0.28% to 6,293.10, led lower by the hefty financials subindex, which was off 0.74%.
That came after the Reserve Bank of Australia sated market watchers by keeping its official cash rate on hold at 1.5%.
“It would be easier to find a golden ticket to Willy Wonka's chocolate factory than an economist who thinks that we'll see a change of rate from them today,” quipped Rakuten Securities in an earlier note.
“Once again the focus will be on the rate statement.”
Across the Tasman Sea, New Zealand’s S&P/NZX 50 was ahead 0.4% to 9,292.15, led higher by subscription broadcaster Sky - no relation to its London-listed namesake - which was up 3.6%.
Both of the down under dollars were weaker on the greenback, with the Aussie last off 0.35% at AUD 1.3910 and the Kiwi retreating 0.73% to NZD 1.5263.