Asia trades lower with US-China relations in focus

Wednesday, 12. August 2020 04:38

Major stock markets in the Asia-Pacific region traded lower on Wednesday as China's Foreign Ministry stressed relations with the United States have to stay "on the right track" so they don't "run out of control." However, a phase two trade deal is going to wait for some other time, according to US President Donald Trump.

Meanwhile, Russia has registered the world's first vaccine against the novel coronavirus, which will start being used from the start of 2021. In business news, SoftBank Group Corp. and Chinese carmaker Nio Inc. reported positive financial results for the second quarter of the year.

Kospi Composite stood slightly in the red at 4:33 am CET, and Australia's S&P/ASX 200 dropped 0.47%. Hang Seng fell 0.37%, while on the other hand, the Nikkei 225 rose by 0.17% two minutes later. In mainland China, the Shanghai Composite declined 1.62%, and the Shenzhen Composite tumbled 2.54% at 4:21 am CET. The dollar traded 0.15% higher against the yen, selling for ¥106.6475 at 4:36 am CET.

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