Asia stocks log another day of broad losses amid unrelenting trade worries


Asian markets logged another mostly losing session on Thursday, as investors counted down to the potential start of a new and worrying phase in a global trade spat.

The Shanghai Composite












SHCOMP, -0.91%










 closed down 0.9%, marking its third-straight losing session, while the tech-heavy China Shenzhen ChiNext Composite












399106, -2.20%










 fell 2.2%, after logging a 2.6% decline on Wednesday.

Tech stocks have been a focal point for trade volleys between the U.S. and China. A U.S. move to block China Mobile












CHL, -0.70%











0941, +0.73%










from its market was followed by the Chinese temporarily halting Micron Technology Inc.’s












MU, -5.51%










 memory-chip sales in that country. U.S. markets will reopen on Thursday, a day after the Independence Day holiday, but closed out Tuesday’s session with losses, concentrated in technology stocks.

Read: Trade-war tracker: Here are the new levies, imposed and threatened

In the latest development on the trade-battle front, Chinese officials refuted media reports that the country will fire the first shots in its continuing skirmish with the U.S. The customs bureau announced Thursday that its tariffs on U.S. goods will kick in only after the Trump administration’s levies on $34 billion worth of Chinese products are implemented, a move expected to come Friday.

Elsewhere, Hong Kong’s Hang Seng Index












HSI, -0.21%










 fell 0.5%, while Japan’s Nikkei












NIK, -0.78%










 dropped 0.8% and Korea’s Kospi












SEU, -0.35%










fell 0.4%. The Taiwan Taiex












Y9999, -1.03%










 dropped 1%.

On the upside, New Zealand’s NZX 50












NZ50GR, +0.41%










rose 0.4% and Australia’s S&P ASX 200












XJO, +0.52%










finished up 0.5%.



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