Asia Stocks Trade Mixed as Trump Aims to Ban Chinese “Untrusted” Apps from “App Stores”

Stocks in Asia had mixed sessions early Thursday after the U.S. President Donald Trump planned to ban untrusted Chinese apps from app stores, raising tension between the two economic giants.

 

As of 9:40 local time in Thailand, Nikkei dropped 0.32%, SSEC fell 0.14%, HSI slipped 1.05%, while ASX 200 increased 0.39% and Kospi jumped 1.05%.

 

Yesterday, the U.S. Secretary of State Mike Pompeo said that Trump’s administration wanted to ban “untrusted” Chinese apps such as TikTok and WeChat from U.S. app stores. The two countries have been firing back and forth on multiple matters such as the 5G ban, the mistreat of Uighurs in Xinjiang, consulate closures, etc. The uneasiness also raised concerns for investors as well.

 

Meanwhile, the spreading of coronavirus is on the pace of reaching 19 million cases, recording 18.8 million as of Thursday, August 6, 2020, with 706,779 fatalities.