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 (NAS:GOOGL) (NAS:GOOG) 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 (HONG:HK:HSI) fell 0.6%, and the Shanghai Composite (SHG:CN:SHCOMP) slid 0.4%, while the smaller-cap Shenzhen Composite (SHENHZEN:CN:399106) tumbled 0.7%. Japan’s Nikkei (NIKKEI:JP:NIK) rose 0.2% after economists were surprised by stronger-than-expected first-quarter economic growth, and South Korea’s Kospi (KOREA:KR:180721) gained 0.7%. Benchmark indexes rose in Taiwan (TAIWAN:TW:Y9999) but fell in Indonesia (INDONESIA:ID:JAKIDX) . Australia’s S&P/ASX 200 (S&P:AU:XJO) advanced 1.4%.
Among individual stocks, Nintendo (TKS:JP:7974) rose while Sony (TKS:JP:6758) fell in Tokyo trading. CNOOC (HKG:HK:883) was among the gainers in Hong Kong, while Sunny Optical (HKG:HK:2382) and Tencent (HKG:HK:700) dropped. Samsung (KRX:KR:005930) and Hyundai Motor (KRX:KR:005380) advanced in South Korea, while Westpac Banking (ASX:AU:WBC) surged in Australia.