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Tesla just reported its second-quarter results. Shares rose more than 4% after hours as the company beat expectations and reported its fourth straight quarter of profits.

· Asian shares waver as investors weigh stimulus hopes against Sino-U.S. tensions

Asian shares wavered on Thursday as investors weighed hopes for more stimulus to support pandemic-stricken economies against a dramatic rise in tensions between the United States and China.

Washington’s order to Beijing to close its consulate in Houston, Texas amid accusations of spying had weighed on risk sentiment earlier in Asia, pulling shares lower.

China said the order was an “unprecedented escalation” by Washington, and a source said Beijing was considering shutting the U.S. consulate in Wuhan in retaliation.

U.S. President Donald Trump said that other consulate closures were “always possible”.

But by afternoon in Asia, MSCI broadest index of Asian shares ex-Japan was 0.18% higher as Chinese shares pared losses. The Shanghai benchmark was off 0.6% after earlier falling more than 2%.

Australian shares regained their footing to rise 0.25% and Hong Kong’s Hang Seng index was 0.43% higher.

Investors also will be keeping a close watch on U.S. weekly jobless claims figures due at 1230 GMT for the latest indications of how the novel coronavirus pandemic has affected the American economy. The U.S. recorded more than 1,100 new coronavirus deaths for a second straight day on Wednesday.


· China stocks snap uptrend as consulate closure sets stage for profit taking

Chinese shares fell on Thursday, snapping a four-day win streak, after an abrupt U.S. order for closure of the Chinese consulate in Houston stoked geopolitical tensions and offered exits for investors who profited from the market’s recent rally.

The Shanghai Composite Index fell 0.2% to 3,325.11 and the blue-chip CSI300 index was pretty much flat. Both benchmarks flitted in and out of positive territory during the session.

· European markets open higher as investors monitor U.S.-China tensions and earnings

European stocks opened higher Thursday as investors react to rising U.S.-China tensions and earnings season kicks into gear.

The pan-European Stoxx 600 climbed 0.4% in early trade, with autos jumping 1.8% to lead gains while health care stocks slipped 0.4% lower.

Earnings come from Roche, Unilever, Dassault Systemes, Eurotunnel, Repsol, Covestro and Daimler on Thursday. On the data front Germany releases consumer confidence data and France business confidence data.



Reference: CNBC, Reuters, FXStreet