By Marketwatch and Associated Press
Stocks in Hong Kong, Shanghai gain despite trade tensions
Asian markets were mostly higher in early trading Wednesday, following gains on Wall Street after stocks started the week down on fears of an escalating trade war between the U.S. and China.
President Donald Trump on Tuesday downplayed tensions , calling the situation a "little squabble" and stressing what a good relationship he has with China's President Xi Jinping. But he also hinted at imposing 25% tariffs on another $325 billion of Chinese goods -- essentially everything China exports to the U.S.
Japan's Nikkei was last about flat. Hong Kong's Hang Seng Index rose 0.7% while the Shanghai Composite advanced about 1%. South Korea's Kospi advanced 0.6%, and Taiwan's Taiex jumped 0.8%, while benchmark indexes in Singapore and Indonesia were about flat. Australia's S&P/ASX 200 rose 0.5%.
Among individual stocks, Nissan Motor plunged after posting its worst fiscal-year earnings in 11 years (https://www.cnbc.com/2019/05/14/japanese-prosecutors-revise-ghosn-indictment-as-scandal-takes-toll-on-nissan.html) Tuesday, and warned of more losses to come. Elsewhere in Tokyo trading, Takeda Pharmaceutical sank, as did Yahoo Japan . In Hong Kong, food processor WH Group , which has been battered amid a swine fever outbreak, rose. Insurer AIA Group and oil producer CNOOC also gained. LG Electronics rose in South Korea, as did Taiwan Semiconductor in Taiwan. BHP advanced in Australia, along with Rio Tinto and Beach Energy .