July 28, 2021

Asian shares higher, but China down after tough talk from Xi

TOKYO (AP) — Shares were mostly higher in Asia on Friday, though markets in Shanghai and Hong Kong declined a day after the Chinese Communist Party marked its centenary with tough talk by Chinese President Xi Jinping.

On Wall Street on Thursday, the benchmark S&P 500 touched a new record in anticipation of a positive U.S. jobs report, expected later Friday. Recent data have provided encouraging signs of a steady recovery from the pandemic.

Japan’s benchmark Nikkei 225 added 0.2% to 28,375.93. South Korea’s Kospi picked up nearly 0.2% to 3,283.93. Australia’s S&P/ASX 200 gained 0.4% to 7,300.30. Shares also rose in India, Taiwan and Southeast Asia.

But Hong Kong’s Hang Seng slipped 1.6% to 28,367.91, while the Shanghai Composite lost 1.6% to 3,532.23.

In a speech Thursday, Xi warned that anyone who tries to bully China “will face broken heads and bloodshed.”

Xi appeared…

Read full article here: apnews.com