Asian stocks closed mixed; Chinese markets closed in the green zone

Chinese stocks climbed up. Gains of around 0.2 percent were recorded in Shanghai and Shenzhen indices. Japan’s Nikkei, on the other hand, failed to hold on to previous gains and ended the session 0.3 percent lower. South Korea’s Kospi stumbled by 1 percent

The gains in China were fueled by Beijing’s fresh rules to allow China’s largest technology companies to return to the mainland market, a factor that is continuing to drive optimism in those markets. The positive trend in Chinese stocks came despite the latest Sino-U.S. trade tensions. Beijing has recently decided to retaliate against the U.S.’s tariffs on imports of Chinese steel and aluminum. It imposed penalties ranging from 25 percent on American pork to 15 percent on fruit.

U.S. Stocks have posted their worst 2nd quarter start since the Great Depression

The U.S. stock market started the second quarter at its worst since the Great Depression. The Standard & Poor 500 closed the session at 2.2 percent downwards. The Index has also finished below its 200-day moving.

The Dow Jones Industrial average went also down by 1.9 percent or 458 points as China’s retaliatory tariffs against U.S. agricultural goods struck fears of global trade war. Large international markets like Boeing bore most of the losses.

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