Asian stocks mixed as traders cash in on gains

Thursday, 04. July 2019 08:18

Investors were looking for direction for equities on Thursday toward the end of the session in Asia as focus remained on the trade war between the United States and China. The government of the most populous nation resumed negotiations with the team led by Secretary of the Treasury Steve Mnuchin and Trade Representative Robert Lighthizer, according to White House Director of Trade and Manufacturing Policy Peter Navarro, who indicated progress was already made. Some of the main stock indexes surrendered modest gains and swung to the red on profit taking after Wall Street continued to post record highs. Sentiment was also affected by the European Union's decision not to start a sanctions procedure against Italy after it vowed to stabilize state finances.

Japan's Nikkei 225 finished 0.26% higher. The dollar was unchanged at 8:15 am CET, buying ¥107.797, and weakened 0.17% to 6.8735 offshore yuan. Gold fell 0.33% to $1,414.03 per ounce. The Hang Seng was flat in Hong Kong.

The Shanghai Composite retreated 0.17% at 8:00 am CET and the Shenzhen Composite slipped 0.3%. South Korea's Kospi rallied 0.51%. The Australian S&P/ASX 200 earlier gained 0.49% for the day.

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