Asian markets mixed following Trump’s advisor resignation

Asian equity markets were mixed on Wednesday, as risk aversion gradually eased following a strong hit after a key Trump advisor announced its resignation.

In Japan, the Nikkei 225 index traded near breakeven, recovering some positions after falling nearly one percent in the previous session.

In South Korea, the Kospi corrected upwards about 0.60 percent on the back of technology and manufacturing components. Heavyweight Samsung Electronics added 3.19 percent.

Sydney’s S&P/ASX 200 fell 0.7 percent, struggling to find support as all sub-indexes moved into red territory this session, with only gold producers trading higher.

Hong Kong’s Hang Seng Index lost 0.08 percent, the Shanghai composite was up 0.19 percent and the Shenzhen composite showed a similar variation to the downside.

Overnight, market players weighed the resignation of President Donald Trump’s economic advisor Gary Cohn as the Republican leader moved forward with his plan.

Earlier this week, Trump announced an increase of import tariffs on steel and aluminium of 25 percent and 10 percent respectively. Trump said the decision would help employment.

<<< Asian Stock Indexes >>>

Australia ASX S&P +63.90 +1.07% 6,060.30

Shanghai Composite +6.36 +0.20% 3,263.28

Hong Kong Hang Seng +371.17 +1.24% 30,257.56

Japan Nikkei 225 +377.93 +1.80% 21,420.02

Taiwan TSEC 50 Index +121.16 +1.14% 10,764.06

<<< Next in Europe >>>

UK Halifax house price index for February is scheduled at 08:30 GMT, followed by a revision on Eurozone’s fourth-quarter gross domestic product as of 10:00 GMT.

<<< Next in United States >>>

ADP nonfarm employment change for February is up at 13:15 GMT. Trade balance figures will be out fifteen minutes later.

<<< Next in Asia >>>

Japan’s current account for January and a revision on its fourth-quarter GDP are scheduled for release as of 23:50 GMT.

FortFS