•European stocks were higher Friday morning despite the U.S. hiking duties on $200 billion worth of Chinese products.
The pan-European STOXX 600 climbed 0.9% in early deals, with the French CAC 40 and German DAX indexes both rising by 1%. Technology stocks were the strongest early performers, jumping 1.3%.
Washington increased tariffs on Chinese goods from 10% to 25% overnight. China immediately said it would retaliate, though did not specify how. But European investors have not been spooked by this latest chapter in ongoing trade tensions between the two economic superpowers.
•U.S. stock futures fell and Asian shares held onto earlier-pared gains on Friday after U.S. President Donald Trump’s tariff hike on $200 billion of Chinese goods took effect, raising tensions between the world’s two biggest economies despite ongoing talks.
MSCI’s broadest index of Asia-Pacific shares outside Japan, which dropped more than 1 percent early Friday, remained where they were when tariff increase kicked in, up 0.3%.
•Japan’s Nikkei booked its largest weekly loss in over 4 months on Friday as the United States raised tariffs on Chinese goods, escalating a trade dispute that is inflicting growing damage on other export-reliant Asian economies.
The Nikkei share average closed down 0.27% at 21,344.92 points, falling for a fifth straight session.
Yutaka Miura, a senior technical analyst at Mizuho Securities, said Japanese equities may drop further if U.S. equities extend losses after the tariffs went into force.
“U.S. stocks didn’t lose much during the previous session. It showed there were investors who didn’t think the tariff hike to 25% would go through,” said Miura.
•Chinese shares and the yuan strengthened on Friday after the U.S. imposed higher tariffs on imports of $200 billion worth of Chinese goods and China vowed retaliation, as domestic investors looked to continuing Sino-U.S. trade talks for signs of hope.
U.S. President Donald Trump’s tariff increase to 25% on $200 billion worth of Chinese goods took effect on Friday during the midday break for China’s stock market. China’s Commerce Ministry said it “deeply regrets” the U.S. decision, adding that it would take necessary countermeasures, without elaborating.
The Shanghai Composite was last up 2%, and the CSI300 gained 2.4%.
Reference: Reuters, CNBC, BBC
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