Asia report: Markets mixed as trade tensions continue

Markets finished Thursday mixed in Asia, with sentiment in the region remaining depressed after a middling session on Wall Street overnight and as geopolitical tensions between Washington and Beijing remained tight.

In Japan, the Nikkei 225 was up 0.65% at 21,646.55, as the yen strengthened 0.09% against the dollar to last trade at JPY 112.96.

The broader Topix index rose 0.81% to 1,628.96 in Tokyo.

Fresh data showed a 1% year-on-year improvement in Japan’s core consumer price index in the latest reading, satiating market expectations.

In corporate news, Mitsubishi UFJ Financial Group was off 1.43%, after a report in the New York Times claimed US prosecutors were looking into allegations of money laundering at the banking giant.

On the mainland, the Shanghai Composite was down 0.23% at 2,645.43, and the smaller, technology-heavy Shenzhen Composite slipped 0.04% to close at 1,385.84.

Traders in China were keeping their wallets closed ahead of a meeting between their president Xi Jinping and his US counterpart Donald Trump, set down for 30 November and 1 December in Buenos Aires.

South Korea’s Kospi was 0.32% lower at 2,069.95, while the Hang Seng Index in Hong Kong was 0.18% higher at 26,019.41.

Oil prices were lower, with Brent crude last down 0.4% at $63.23 per barrel, and West Texas Intermediate losing 0.68% to $54.26.

In Australia, the S&P/ASX 200 was ahead 0.86% at 5,691.30, with the hefty financials subindex rising 0.77% as the big four banks all kept their heads above the waterline.

Australia and New Zealand Banking Group was up 1.3%, Commonwealth Bank of Australia added 0.81%, National Australia Bank rose 0.92%, and Westpac Banking Corporation was 0.35% higher.

Across the Tasman Sea, New Zealand’s S&P/NZX 50 broke its six-day losing streak by closing up 0.4% at 8,703.16.

Tourism Holdings was the player of the match, rising 5.3% by the end of the day in Wellington.

Both of the down under dollars were weaker on the greenback, with the Aussie last off 0.25% at AUD 1.3804, and the Kiwi retreating 0.44% to NZD 1.4698.