Breaking News
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Asian Stocks Down Over Mounting U.S.-China Tensions

Stock MarketsJul 22, 2020 11:08PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
© Reuters.

By Gina Lee – Asian stocks were down on Thursday morning, with U.S.-China tensions hitting a fresh low and decreasing investor risk appetite.

The U.S. ordered the closure of China’s consulate in Houston on Wednesday a move "to protect American intellectual property and Americans' private information."

The closure is the latest event increasing tensions between the two countries. Investors are now looking to China’s reaction, with China condemning the closure and reportedly considering a retaliatory closure of the U.S. consulate in Wuhan.

Some investors warn that the tensions will continue to worsen between the two countries over other issues such as trade and Hong Kong’s national security law.

“The escalation in U.S.-China tensions is a reminder of the headline risk faced by investors during the upcoming U.S. election campaign,” Stephen Innes, chief global market strategist at AxiCorp, told Bloomberg.

“The U.S. and China have become increasingly combative in their views this year. The markets better get used to it because there is more of that to come.”

China’s Shanghai Composite slid 2.17% by 11 PM ET (4 AM GMT), and the Shenzhen Component fell 1.57%.

South Korea’s KOSPI was down 1.04% and Down Under, the ASX 200 fell 0.16%.

Hong Kong’s Hang Seng Index was down 0.08%, with the city reporting 113 cases, its highest daily number yet, on Wednesday.

Japanese markets are closed for a holiday.

Meanwhile, investor sentiment was boosted after Pfizer (NYSE:PFE) said that the U.S. government ordered up to 600 million doses of its COVID-19 vaccine candidate. Three other candidates reported positive results in early stage human clinical trials earlier in the week. But COVID-19 continues its global rampage, with over 15.1 million COVID-19 cases as of July 23, according to Johns Hopkins University data.

Investors are also keeping an eye on the U.S. Congress’ negotiations over fresh stimulus measures for the economy, with some earlier measures due to expire at the end of July.

Asian Stocks Down Over Mounting U.S.-China Tensions

Related Articles

China vaunts air power, civil growth at Zhuhai show
China vaunts air power, civil growth at Zhuhai show By Reuters - Sep 28, 2021

By David Kirton ZHUHAI, China (Reuters) -China touted its expanding military air power and hopes of capturing a growing share of its civil aviation market for domestic producers...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email