Asia shares mixed on trade outlook, tighter China oversight

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BANGKOK – Shares were combined in Asia on Tuesday pursuing the lackluster day on Wall Street. Investors are keeping an eye on tensions over trade following President Donald Trump’s announcement of hikes on steel and aluminum tariffs. Shares in Shanghai and Hong Kong fell as China announced a revamp of the financial regulatory regime.

KEEPING SCORE: Japan’s Nikkei 225 index edged 0.2 percent higher to $21,875.43 while South Korea’s Kospi added 0.One percent to two,486.31. The concept Seng in Hong Kong fell 0.3 percent to 31,507.76 as well as the Shanghai Composite index declined 0.2 percent to a few,319.12. Australia’s S&P ASX 200 dropped 0.5 % to 5,965.00. Shares rose in Taiwan and were mixed in Southeast Asia, while using Placed in Thailand falling 0.2 percent.

WALL STREET: U.S. stocks were split Monday as technology companies climbed while Boeing and also other industrial companies gave back a number of the ground they won on Friday. The S&P 500 index 0.One percent to two,783.02 plus the Dow Jones industrial average declined 0.6 % to 25,178.61. The bulk of that loss came from three industrial stocks: Boeing, Caterpillar and United Technologies. The Nasdaq composite finished at another record high, adding 0.4 percent to 7,588.32. The Russell 2000 index of smaller-company stocks rose 0.2 percent to one,601.06.

CHINA WATCHDOG: China announced plans Tuesday to make a newly powerful regulator to supervise scandal-plagued banking and insurance industries when they aim to reduce debt and financial risks. The move is due to line together with the ruling Communist Party’s efforts to tighten remedy for state-owned entities that dominate industries including banking, telecoms as well as in an attempt to create them more effective and productive.

QUALCOM-BROADCOM: Singapore computer chipmaker Broadcom said in the statement which it strongly disagrees with Trump’s order to block its proposed acquisition of Qualcomm on the understanding it raises national security concerns. Your decision, announced late Monday, abruptly ended Broadcom’s four-month, $117 billion bid to obtain Qualcomm – an offer which would happen to be the largest ever carried out in the technology industry. Broadcom’s Singapore connections complicated matters, even though the company maintained its physical headquarters in Silicon Valley and the majority of of the shareholders come in the U.S. In U.S. trading, Broadcom jumped $9.06, or 3.6 %, to $262.84 while Intel fell 67 cents, or 1.3 percent, to $51.52. Qualcomm lost 22 cents to $62.81.

ENERGY: Benchmark U.S. crude fell 13 cents to $61.23 a barrel in electronic trading over the New york city Mercantile Exchange. It lost 68 cents, or 1.1 %, to $61.36 a barrel in The big apple. Brent crude, useful to price international oils, quit 12 cents to $64.83 per barrel. It shed 54 cents to $64.95 a barrel working in london.

CURRENCIES: The dollar rose to 106.66 yen from 106.41 late Monday. The euro fell to $1.2330 from $1.2336.

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