On Wednesday, Asian equities turned out to be mixed in morning trade because worries over a looming trade conflict between China and the United States kept lingering…
Asian stock indices show mixed performance
On Wednesday, stock indices of the countries of the Asian-Pacific region demonstrated differently directed moves.
The index of the region MSCI Asia Pacific soared by about 0.1% from the market start.
Investors positively perceived the signals of the US and China that they are open to trade negotiations, as MarketWatch revealed.
On Tuesday, Chairman of the People's Republic of China Xi Jinping pledged to actively develop the country's openness policy for the outside world. Previously, a number of high-ranking representatives of the US authorities paid attention to the situation with China, and the overall tone of their statements seemed to be soft enough.
However, notwithstanding the easing of fears about the trade war, volatility in the stock markets is going to remain at least until the end of May, that is, before the planned dates for the introduction of import duties in America.
In addition to this, Japanese indices Nikkei 225 as well as Topix slumped by respectively 0.35% and 0.23%.
The most considerable dive took place in equities of retailers. J.Front Retailing Co. sagged more than 10% (the maximum sink for seven years) because of a poor prognosis of the company's revenue.
The price of securities of consumer electronics manufacturers Sony Corp. as well as Panasonic Corp. headed south by respectively 0.8% and 0.1%.
The value of the South Korean index Kospi inched down by about 0.21%.
The Australian indicator S&P/ASX 200 headed south by approximately 0.51%.
Cheaper equities of the four largest Australian banks performed the following way: Westpac Banking dived 1.4%, National Australia Bank declined 1.2%, Australia & New Zealand Banking sagged 1%, while Commonwealth Bank of Australia tumbled 1.2%.
Simultaneously, the market value of the world's leading mining companies BHP Billiton Ltd. and Rio Tinto inched up by respectively 1.9% and 1.3%.
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