Asian stocks mixed but mostly down as US-China tariffs on goods worth hundreds of billions of dollars take effect
An investor looks at the stock price monitor at a private securities company in Shanghai, China, Thursday, November 8, 2012.
The Shanghai Composite Index gained 1% to 2,916.37 and Hong Kong's Hang Seng lost 0.6% to 25,580.16. Tokyo's Nikkei 225 shed 0.3% to 20,633.92. The United States is pressing China to narrow its trade surplus and roll back plans for government-led creation of global competitors in robotics and other industries. Its trading partners say those violate its free-trade obligations and are based on stealing or pressuring companies to hand over technology.
On Wall Street, stocks ended little changed Friday after a listless day of trading ahead of a holiday weekend.Financial, industrial and health care stocks were among the big winners. Those sectors outweighed losses in consumer goods makers and communication services stocks. Shares in companies that rely on consumer spending also fell.
Chinese exporters are struggling in the face of US tariff hikes. Beijing has propped up economic growth by boosting government spending on construction.
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