Economic news

Asian stocks mixed as U.S. tariff plan fuels trade concerns

Asian stocks generally improved on Wednesday, with sluggish data in the region and concerns of an imminent escalation in the tariff war between two world's largest economies pulling indexes into the negative territory even as solid earnings out of the U.S. provided some help.

Photo: Reuters

MSCI’s broadest index of Asia-Pacific shares slipped 0.1 percent, reversing earlier gains, while Japan’s Nikkei stock index jumped 0.8 percent.

The Shanghai Composite index dropped 0.8 percent, while the blue-chip CSI300 index was down 1 percent.

South Korea’s Kospi advanced 0.4 percent, while Hong Kong’s Hang Seng Index slid 0.2 percent.

Meanwhile, crude prices declined on industry figures showing an unexpected increase in U.S. crude stockpiles. The slump in oil comes after its largest monthly fall in two years in July.

U.S. crude lost 0.4 percent to $68.47 a barrel, while Brent was 0.2 percent lower at $74.04 a barrel.

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