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May 30, 2019, 8:32 a.m. EDT

Asian markets in a tug of war as investors eye trade spat

Nikkei, Hang Seng down again after losses on Wall Street

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By Associated Press and MarketWatch


AFP/Getty Images
Iron ore is moved at a Rio Tinto facility in Western Australia. Mining giants Rio Tinto and BHP declined in Australian trading Thursday.

Asian shares finished mixed Thursday, but losing indexes pared losses as investors weighed up the latest bout of selling on Wall Street and worries about a trade war.

Japan’s benchmark Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK -0.18%   closed down nearly 0.3%. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -1.63%   fell 0.7% while South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.05%   rose nearly 0.8%. Hong Kong’s Hang Seng /zigman2/quotes/210598030/delayed HK:HSI -0.74%   finished 0.4% lower, while the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.22%   lost 0.3%. Stocks rose in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -0.02% ,  but fell in Singapore /zigman2/quotes/210597985/delayed SG:STI -0.18%  .

Among individual stocks, SoftBank Group /zigman2/quotes/207303954/delayed JP:9984 +0.10%   and Fast Retailing /zigman2/quotes/200663563/delayed JP:9983 +2.40%   fell in Tokyo trading, as did Nintendo  . In Hong Kong, Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 -0.78%   and AAC /zigman2/quotes/201441510/delayed HK:2018 +0.89%   dropped, along with CSPC Pharmaceutical /zigman2/quotes/200847219/delayed HK:1093 -0.13%  . Samsung /zigman2/quotes/209800866/delayed KR:005930 +0.60%   and LG Electronics /zigman2/quotes/209966407/delayed KR:066570 +1.37%   advanced in South Korea. Mining giants BHP /zigman2/quotes/201448516/delayed AU:BHP -1.48%   and Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO -0.25%   declined in Australia, as did Beach Energy /zigman2/quotes/200513631/delayed AU:BPT +1.25%  .

The latest market slide comes as investors worry that the trade war between the U.S. and China will derail global economic and corporate profit growth as it drags on with no sign of a resolution.

“The cracks in global equity markets threatened to grow wider still as relentless haven-buying of sovereign bonds overnight pushed key yields even lower and sent recession fears through stocks,” said Jeffrey Halley, senior market analyst at Oanda.

“Asia is unlikely to feel much relief today either with both the Nikkei 225 and the ASX 200 down.”

On Wall Street, overnight, the S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.48%   fell 19.37 points, or 0.7%, to 2,783.02. The index had been down 1.3% earlier. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.07%   lost 221.36 points, or 0.9%, to 25,126.41. It had tumbled 409 points. The Nasdaq composite /zigman2/quotes/210598365/realtime COMP +1.29%   slid 60.04 points, or 0.8%, to 7,547.31.

With two more trading days left in May, the S&P 500 is heading for a loss of 5.5%. That would be its first monthly loss since December. The market has been heading steadily lower this month as prospects for the economy have dimmed and as traders got more worried about the lingering trade feud between Washington and Beijing.

In early May the U.S. and China concluded their 11th round of trade talks with no agreement. The U.S. then more than doubled duties on $200 billion in Chinese imports, and China responded by raising its own tariffs.

Benchmark U.S. crude   added 9 cents to $58.86 It fell 0.6% to settle at $58.81 a barrel Wednesday. Brent crude  , the international standard, slipped 63 cents to $68.82 per barrel.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.1187%   rose to 109.68 Japanese yen from 109.31 yen on Wednesday.

/zigman2/quotes/210597971/delayed
JP : Nikkei
21,877.89
-38.42 -0.18%
Volume: 0.00
May 29, 2020 3:00p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
5,755.70
-95.40 -1.63%
Volume: 2.45M
May 29, 2020 5:16p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,029.60
+1.06 +0.05%
Volume: 1.09M
May 29, 2020 3:33p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
22,961.47
-171.29 -0.74%
Volume: 3.62M
May 29, 2020 4:08p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
2,852.35
+6.13 +0.22%
Volume: 20.68B
May 29, 2020 3:01p
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
10,942.16
-2.03 -0.02%
Volume: 0.00
May 29, 2020 1:33p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,510.75
-4.49 -0.18%
Volume: 0.00
May 29, 2020 5:20p
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/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 4,832.00
+5.00 +0.10%
Volume: 21.51M
May 29, 2020 3:00p
P/E Ratio
32.42
Dividend Yield
0.91%
Market Cap
¥9992.53 billion
Rev. per Employee
¥126.96M
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/zigman2/quotes/200663563/delayed
JP : Japan: Tokyo
¥ 60,530.00
+1,420 +2.40%
Volume: 1.78M
May 29, 2020 3:00p
P/E Ratio
41.53
Dividend Yield
0.79%
Market Cap
¥6179.06 billion
Rev. per Employee
¥40.83M
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/zigman2/quotes/206687505/delayed
HK : Hong Kong
HK$ 102.40
-0.80 -0.78%
Volume: 8.93M
May 29, 2020 4:08p
P/E Ratio
24.92
Dividend Yield
0.79%
Market Cap
HK$112.32 billion
Rev. per Employee
HK$1.08M
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/zigman2/quotes/201441510/delayed
HK : Hong Kong
HK$ 39.80
+0.35 +0.89%
Volume: 11.73M
May 29, 2020 4:08p
P/E Ratio
19.20
Dividend Yield
1.01%
Market Cap
HK$48.10 billion
Rev. per Employee
HK$411,637
loading...
/zigman2/quotes/200847219/delayed
HK : Hong Kong
HK$ 15.18
-0.02 -0.13%
Volume: 66.00M
May 29, 2020 4:08p
P/E Ratio
22.44
Dividend Yield
1.32%
Market Cap
HK$94.52 billion
Rev. per Employee
HK$1.88M
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/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
50,700.00
+300.00 +0.60%
Volume: 27.60M
May 29, 2020 3:30p
P/E Ratio
16.18
Dividend Yield
2.79%
Market Cap
₩344388.00 billion
Rev. per Employee
N/A
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/zigman2/quotes/209966407/delayed
KR : S. Korea: KRX
59,300.00
+800.00 +1.37%
Volume: 900,113
May 29, 2020 3:30p
P/E Ratio
21.98
Dividend Yield
1.26%
Market Cap
₩10677.90 billion
Rev. per Employee
N/A
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/zigman2/quotes/201448516/delayed
AU : Australia: Sydney
$ 34.64
-0.52 -1.48%
Volume: 14.07M
May 29, 2020 4:10p
P/E Ratio
12.96
Dividend Yield
6.15%
Market Cap
$175.17 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 93.40
-0.23 -0.25%
Volume: 3.85M
May 29, 2020 4:10p
P/E Ratio
13.32
Dividend Yield
7.04%
Market Cap
$150.95 billion
Rev. per Employee
$1.14M
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/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 1.62
+0.02 +1.25%
Volume: 20.67M
May 29, 2020 4:10p
P/E Ratio
6.44
Dividend Yield
1.24%
Market Cap
$3.68 billion
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
3,044.31
+14.58 +0.48%
Volume: 4.38B
May 29, 2020 5:14p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
25,383.11
-17.53 -0.07%
Volume: 545.14M
May 29, 2020 5:14p
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/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
9,489.87
+120.88 +1.29%
Volume: 4.24M
May 29, 2020 5:16p
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
107.6910
-0.1280 -0.1187%
Volume: 0.0000
May 31, 2020 5:00p
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