Economic news

Asian stocks head lower as trade tensions rise

Asian stocks wobbled on Wednesday as deepened Washington-Beijing trade tensions offset a rebound on Wall Street and left investors cautious.

Photo: Reuters

MSCI’s broadest index of Asia-Pacific shares lost 0.3 percent.

Japan’s Nikkei rose 0.2 percent in thin trade, while South Korea's Kospi Index sank 1.4 percent.

The Shanghai Composite climbed 0.8 percent and Australian shares dipped 0.3 percent.

Wall Street had bounced back on Tuesday as traders turned their attention to earnings season and the S&P 500 jumped above a key support level. The Dow closed up 1.65 percent, while the S&P 500 surged 1.26 percent and the Nasdaq 1.04 percent.

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