Asia-Pacific trades higher despite US-China sanctions dispute

Tuesday, 11. August 2020 07:32

Major stock exchanges in the Asia-Pacific region traded higher on Tuesday despite China’s vindictive actions against the United States. According to some media, after Washington threatened to impose sanctions on 11 individuals including Hong Kong leader Carrie Lam, China imposed sanctions on 11 US citizens that included Senators Ted Cruz, Marco Rubio and Pat Toomey. However, investors still seem to be focused on positive data. Japan's trade deficit shrunk to ¥77.3 billion in June while the country's Cabinet Office reported that the service sector and economic sentiment improved in July.

The Nikkei 225 index jumped by 1.80% at 7:30 am CET. The Shanghai Composite rose by 0.61% at 7:15 am CET and the Shenzhen Composite Index declined 0.44% at 7:31 am CET, while the Hang Seng rose by 2.45% at the same time. The Kospi gained 1.40% at 7:32 am CET. The S&P/ASX 200 in Australia advanced 0.44% at 7:32 am CET.

The dollar was 0.12% higher compared to the yen, going for 106.0930 at 7:27 am CET.

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