BEIJING – Asian shares were mostly lower on Thursday after President Donald Trump signed a bill expressing support for human rights in Hong Kong.
In Hong Kong, where sometimes violent protests have dragged on for nearly six months, the Hang Seng index edged 0.1 percent lower to 26,937.64. The Shanghai Composite index lost 0.3 percent to 2,894.33.
Trump’s move did not come as a surprise. But it’s unclear if the human rights bill, which Beijing views as “meddling” in China’s internal affairs, might derail recent progress in trade talks with Washington.
“We urge the US to not continue going down the wrong path, or China will take countermeasures, and the US must bear all consequences,” the Chinese Foreign Ministry said in a statement.
Markets appeared to be taking the developments in stride, said Stephen Innes of AxiTrader, “on the assumption that the US legislation is unlikely to torpedo phase one. But of course, it does provide a stark reminder that on one level or another, US-China frictions are always going to be a thorn in the markets’ side.”
Japan’s Nikkei 225 index edged 9.29 points higher to 23,448.00 while the Kospi in Seoul lost 0.3 percent to 2,122.43. Australia’s S&P ASX 200 gained 0.2 percent to 6,865.40. Shares fell in Taiwan and Singapore and were flat in Bangkok. (AP)
