Asian shares mostly moved higher overnight after tech giants dragged down Wall Street last night.
The Nikkei (^N225) rose 0.5% on the day in Japan, while the Hang Seng (^HSI) rose 0.4% in Hong Kong. The Shanghai Composite (000001.SS) was 0.2% down by the end of the session.
In China, the government urged Canada to immediately correct the “wrong practices” of new tariffs against the Asian nation.
Canada, an export-driven economy that relies heavily on trade with the US, has been closely watching moves by the Biden administration to erect a much higher tariff wall against Chinese EVs, batteries, solar cells, steel and other products.
Geopolitical risks kept early currency moves subdued, though fears of an escalating conflict following Israel and Hezbollah’s major missile exchange over the weekend petered out.
The yen was last 0.2% lower at 144.82 per dollar, giving up some of its safe haven gains from the previous session which saw it rise to a three-week high of 143.45 per dollar.
Across the pond, focus shifted from the Federal Reserve’s policy outlook to Nvidia’s (NVDA) earnings later this week.
The S&P 500 (^GSPC) slipped 0.3%, and the tech-heavy Nasdaq (^IXIC) was 0.85% lower. The Dow Jones (^DJI) managed to eke out a gain of 0.1%.
Source Agencies
