Asian stocks were mixed on September 2 after Washington and Beijing escalated ir tre war with new tariff hikes. Shanghai vanced while Tokyo and Hong Kong declined. South Korea’s main index was unchanged. Markets reacted less strongly to weekend tariff hikes on billions of dollars of goods than to previous increases. Investors are hoping for progress in talks this month, but analysts warn fight over tre and techlogy is unlikely to be quickly resolved.

“ short-lived truce will probably provide limited relief,” said Zhu Huani of Mizuho Bank in a report. “Businesses have become increasingly uncertain about future prospects, evidenced by pullback in business investment amidst growing concerns on growth.”

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Shanghai Composite Index gained 0.7% to 2,907.51 and Hong Kong’s Hang Seng lost 0.7% to 25,546.70. Tokyo’s Nikkei 225 shed 0.2% to 20.653.99. Seoul’s Kospi was flat at 1,967.76 and Sydney’s S&P-ASX 200 retreated 0.4% to 6,579.20. New Zealand and Taiwan gained while Souast Asia markets retreated. 

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tariff war

On September 1, United States started charging 15% tax on about $112 billion of Chinese imports. China responded by charging taxes of 10% and 5% on a list of American goods. two governments say y are going ahe with talks this month in Washington but neir side has given any sign it might offer concessions. United States is pressing China to narrow its tre surplus and roll back plans for government-led creation of global competitors in robotics and or industries. Its tring partners say those violate its free-tre obligations and are based on stealing or pressuring companies to hand over techlogy. two governments have imposed higher taxes on about two-thirds of goods y import from each or.

“We’ll see what happens,” President Donald Trump told reporters. “But we can’t allow China to rip us off anymore as a country.”

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Second monthly decline

On Wall Street, stocks ended little changed on August 31 after a listless day of tring ahe of a holiday weekend. market closed out August with its second monthly decline this year, after May. Financial, industrial and health care stocks were among big winners. Those sectors outweighed losses in consumer goods makers and communication services stocks. Shares in companies that rely on consumer spending also fell.

S&P 500 index rose 0.1% to 2,926.46. Dow Jones Industrial Aver gained 0.2% to 26,403.28. Nasdaq slid 0.1% to7,962.88. Benchmark U.S. crude lost 11 cents to $54.99 per barrel in electronic tring on New York Mercantile Exchange. contract fell $1.61 on Friday to close at $55.10. Brent crude, used to price international oils, retreated 37 cents to $58.88 per barrel in London. It sank $1.24 previous session to $59.25. dollar declined to 106.17 yen from Friday’s 106.24 yen. euro was unchanged at $1.0991.

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