Asia Pacific stocks trade mixed as U.S.-China tensions weigh on sentiment

  • On Wednesday, U.S. Secretary of State Mike Pompeo said that President Donald Trump's administration wants to ban "untrusted" Chinese apps such as TikTok and WeChat from U.S. app stores. That development followed tensions between Washington and Beijing heating up in recent weeks
  • Meanwhile, a range of issues remains unresolved among lawmakers stateside in coronavirus relief negotiations, with the White House threatening to act on its own if it fails to reach a deal with Democrats.

Stocks in Asia Pacific traded mixed Thursday morning as investors continued to watch tensions between the U.S. and China.

In Japan, the Nikkei 225 slid 0.26% in early trade while the Topix index shed 0.33%. South Korea's Kospi advanced 0.96%.

Shares in Australia edged higher as the S&P/ASX 200 gained 0.32%.

Overall, the MSCI Asia ex-Japan index traded 0.2% higher.

On Wednesday, U.S. Secretary of State Mike Pompeo said that President Donald Trump's administration wants to ban "untrusted" Chinese apps such as TikTok and WeChat from U.S. app stores. That development followed tensions between Washington and Beijing heating up in recent weeks.

Meanwhile, a range of issues remains unresolved among lawmakers stateside in coronavirus relief negotiations, with the White House threatening to act on its own if it fails to reach a deal with Democrats.

On the earnings front, Japanese automaker Toyota Motor is set to post its quarterly financial results on Thursday.

Shares of Singapore bank DBS Group will be watched when they open on Thursday after the firm announced a 26% year-on-year plunge in its first-half 2020 net profit.

Overnight stateside, the S&P 500 advanced 0.6% to close at 3,327.77 while the Nasdaq Composite gained 0.4% to end its trading day at 10,998.40. The Dow Jones Industrial Average rallied 373.05 points, or 1.4%, to 27,201.52.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 92.78 in a volatile trading week that has seen it decline from levels above 93.6 seen earlier in the traidng w

The Japanese yen traded at 105.51 per dollar after strengthening from levels above 105.6 against the greenback yesterday. The Australian dollar changed hands at $0.7202 following its rise from levels below $0.715 this week.

Oil prices were mixed in the morning of Asian trading hours, with international benchmark Brent crude futures up about 0.1% to $45.21 per barrel. U.S. crude futures dipped slightly to $42.17 per barrel.

Here's a look at what's on tap:

  • Japan: Toyota Motor quarterly earnings

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