By Marketwatch and Associated Press
Chinese stock markets fell Monday amid increasing trade tensions with the U.S., while markets in most of the rest of Asia gained.
On Friday, China’s Commerce Ministry called the Trump administration’s latest tariffs hikes “bullying behavior,” and Chinese state media suggested the government was in no hurry to resume trade talks with the U.S.
On Sunday, Alphabet Inc.’s /zigman2/quotes/202490156/composite GOOGL +0.18% /zigman2/quotes/205453964/composite GOOG +0.27% Google reportedly revoked Huawei Technologies’ Android license, effectively blocking the Chinese tech giant’s smartphones from receiving Android updates and barring its next versions of smartphones outside of China from using the popular YouTube and Gmail apps, and as well as cutting off access to the Google Play store.
Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +1.25% fell 0.6%, and the Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.33% slid 0.4%, while the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +0.79% tumbled 0.7%. Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +0.70% rose 0.2% after economists were surprised by stronger-than-expected first-quarter economic growth, and South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.21% gained 0.7%. Benchmark indexes rose in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +0.24% but fell in Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX -0.11% . Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.94% advanced 1.4%.
Among individual stocks, Nintendo rose while Sony /zigman2/quotes/201361720/delayed JP:6758 +0.19% fell in Tokyo trading. CNOOC /zigman2/quotes/203421416/delayed HK:883 +2.77% was among the gainers in Hong Kong, while Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 +5.37% and Tencent /zigman2/quotes/204605823/delayed HK:700 +1.71% dropped. Samsung /zigman2/quotes/209800866/delayed KR:005930 +1.79% and Hyundai Motor /zigman2/quotes/206684590/delayed KR:005380 +7.26% advanced in South Korea, while Westpac Banking /zigman2/quotes/203084975/delayed AU:WBC +0.08% surged in Australia.