Asian stocks mixed over US-China trade concerns and global slowdown

On Thursday, China said it would "take necessary countermeasures" after the US announced earlier this month a new 10% tariff on $300bn in Chinese goods.

Aug 16, 2019 03:08 IST India Infoline News Service

Asian markets are higher today as Chinese and Hong Kong shares show gains.

The Shanghai Composite is up 0.46% while the Hang Seng is up 0.48%. The Nikkei 225 is not trading.

On Thursday, China said it would "take necessary countermeasures" after the US announced earlier this month a new 10% tariff on $300bn in Chinese goods.

However, a spokeswoman from the foreign ministry said that China remains hopeful for an eventual trade deal.

Further, on Thursday, the Hong Kong government unveiled a stimulus package worth about 19bn Hong Kong dollars ($2.4bn) to help avoid a recession.

Meanwhile, the US released robust retail sales data on Thursday. Retail sales increased 0.7% in July, according to government data. This shows signs of consumer optimism with sales at retailers such as Amazon and Best Buy showing the biggest increase in July in four months.

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