Asian markets trade mixed after Nasdaq continues winning streak; dollar holds onto gains


Elsewhere, the Kospi pulled back by 0.66 percent as major technology names recorded declines in early trade. Samsung Electronics fell 2.03 percent and SK Hynix declined 2.18 percent.

Down Under, the S&P/ASX 200 bucked the overall downward trend to inch higher, with the index last trading higher by 0.14 percent. Consumer stocks advanced, while the heavily weighted financials and materials sectors traded sideways early on.

That followed the mixed session seen stateside on Thursday. Major U.S. indexes traded flat for most of the day before slipping late in the session as investors focused on this quarter’s strong earnings. Nearly 90 percent of S&P 500 companies have reported quarterly results so far.

Trade concerns have also been in the spotlight, with China announcing earlier this week that it would retaliate against recent U.S. tariffs. The Chinese Ministry of Commerce announced Wednesday a 25 percent tariff on $16 billion in U.S. goods, a move that came after the U.S. Trade Representative’s office said duties on $16 billion in Chinese imports would take effect on Aug. 23.

The Nasdaq Composite notched its eighth consecutive positive session, finishing the day higher by 0.04 percent at 7,891.78. That was the tech-heavy index’s longest win streak this year. Other major U.S. indexes finished the session slightly lower.

European markets were also mixed overnight, with the pan-European Stoxx 600 edging 0.1 percent higher and the FTSE 100 slipping 0.45 percent. Asian markets, meanwhile, closed mostly higher on Thursday.



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