- Asia-Pacific is largely back on the mend, but China equities are still on the decline as the US imposes tariffs on China.
- Trade war fears threaten broader market sentiment, with further tariffs inbound on both sides.
Asian stock markets are mixing for Friday, with China’s equity indexes in the red once more despite a mild recovery for the day across the broader Asia-Pacific market session.
The US’ self-imposed tariff deadline of July 6th has come into effect, and $34 billion worth of Chinese goods is now subject to hefty tariffs. A quick reaction from China is expected in the coming hours, and the US is already preparing further tariffs to levy against China to punish them for retaliating.
Japan’s Nikkei 225 has rebounded from the week’s steady bearish burn on trade concerns, and is now up 1.30% for Friday, while the Tokyo Topix index is also up over 1.00%; Australia’s ASX 200 is also climbing for the day, up 0.80%, but China indexes are continuing the bearish trend, with the Hang Seng index lower by -0.50% and the Shanghai CSI 300 index down a relatively sedate -0.12% with the MSCI broad Asia-Pacific index also down -0.50%.
Nikkei 225 levels to watch
Japan’s Nikkei 225 index is bouncing back after steadily declining through the week, marking in a high for Friday at 21,857.00 with the week’s low sitting nearby at 21,474.00. The Nikkei has been on the decline since peaking at 23,000.00 in mid-June, though 2018’s lows are still far below at 20,250.00.
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