Asian shares higher, but China down after tough talk from Xi | Nation
3 min read
A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, July 1, 2021.Asian shares are mostly lower as investors await a much watched U.S. jobs for indications of how the recovery from the pandemic is faring.
A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, July 1, 2021. Asian shares are mostly lower as investors await a much watched U.S. jobs for indications of how the recovery from the pandemic is faring.
A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, July 1, 2021.Asian shares are mostly lower as investors await a much watched U.S. jobs for indications of how the recovery from the pandemic is faring.
Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, July 1, 2021. Asian shares are mostly lower as investors await a much watched U.S. jobs for indications of how the recovery from the pandemic is faring.
People walk through steam from a street grating outside the New York Stock Exchange, Wednesday, June 16, 2021. Stocks are off to a mixed start on Wall Street as traders wait for the latest U.S. monthly jobs report due out Friday, July 2. The S&P 500 was little changed in the early going Wednesday, June 30.
A currency trader walks near a screen showing the Korea Composite Stock Price Index (KOSPI) at a foreign exchange dealing room in Seoul, South Korea, Friday, July 2, 2021. Shares were mostly higher in Asia on Friday, though markets in Shanghai and Hong Kong declined a day after the Chinese Communist Party marked its centenary with tough talk by Chinese President Xi Jinping.
A huge screen shows the Korea Composite Stock Price Index (KOSPI) at the Korea Exchange in Seoul, South Korea, Friday, July 2, 2021. Shares were mostly higher in Asia on Friday, though markets in Shanghai and Hong Kong declined a day after the Chinese Communist Party marked its centenary with tough talk by Chinese President Xi Jinping.
A huge screen shows the Korea Composite Stock Price Index (KOSPI) as a man, right, sits to check the body temperature of visitors at the Korea Exchange in Seoul, South Korea, Friday, July 2, 2021. Shares were mostly higher in Asia on Friday, though markets in Shanghai and Hong Kong declined a day after the Chinese Communist Party marked its centenary with tough talk by Chinese President Xi Jinping.
Currency traders watch computer monitors near screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Friday, July 2, 2021. Shares were mostly higher in Asia on Friday, though markets in Shanghai and Hong Kong declined a day after the Chinese Communist Party marked its centenary with tough talk by Chinese President Xi Jinping.
TOKYO (AP) — Shares were mostly higher in Asia on Friday, though markets in Shanghai and Hong Kong declined a day after the Chinese Communist Party marked its centenary with tough talk by Chinese President Xi Jinping.
On Wall Street on Thursday, the benchmark S&P 500 touched a new record in anticipation of a positive U.S. jobs report, expected later Friday. Recent data have provided encouraging signs of a steady recovery from the pandemic.
Japan’s benchmark Nikkei 225 added 0.3% to finish at 28,783.28 on Friday. South Korea’s Kospi was little changed, inching down less than 0.1% to 3,281.78. Australia’s S&P/ASX 200 gained 0.6% to 7,308.60. Shares also rose in India and Vietnam.
But Hong Kong’s Hang Seng dropped nearly 2% to 28,266.44, while the Shanghai Composite was also down nearly 2% at 3,518.76.
In a speech Thursday, Xi warned that anyone who tries to bully China “will face broken heads and bloodshed.”
Xi appeared to be hitting back at the U.S. and others that have criticized China’s trade and technology polices, military expansion and human rights record. The harsh rhetoric also appeared aimed at a domestic audience. But coming at a time of sharp tension with Washington, it struck an ominous tone.
Investors also anticipate a pullback in central bank support for markets in China, analysts said.
