Asian equities trade mixed towards the end of the week
The Nikkei is taking comfort from the broad rally in US equities overnight, offsetting pessimistic headlines regarding US-China trade tensions in relation to Huawei earlier today. The fact that Japanese Q2 GDP beat expectations also helped with the mood today.
Japan's Q2 GDP report showed that consumption was a major factor in helping to give economic growth a boost but that also owes much to the much longer Golden Week holiday seen this year. Trade remains a massive struggle and will be more evident in Q3 and Q4 data, especially amid the proposed sales tax hike in October.
Chinese stocks are a bit more sluggish amid lingering trade tensions with the Hang Seng down by 0.1% and the Shanghai Composite down by 0.3%. US futures are weaker, down by 0.4%, and that should be reflected in European equities as well at the open.
