Shares in Asia were mixed in Thursday morning trade, despite a positive development overnight on the global trade front.
Australia’s ASX 200, on the other hand, rose 0.15% as the sectors mostly traded up.
Stocks on Wall Street advanced on Wednesday following that development. The Dow Jones Industrial Average closed up 115.97 points at 25,648.02. The S&P 500 added 0.6% to end the day at 2,850.96 while the Nasdaq Composite gained 1.1% to close at 7,822.15.
Shares stateside initially fell after the release of weaker-than-expected economic data stoked fears that the U.S.-China trade war is dragging down global economic growth.
U.S. retail sales fell 0.2% in April, the Commerce Department said Wednesday. Economists polled by Dow Jones expected an increase of 0.2%. Over in China, data released Wednesday showed the country’s industrial output and retail sales growth for April also coming in below expectations.
Those numbers came amid a recent re-escalation in trade tensions between Beijing and Washington, starting with the U.S. raising tariffs on $200 billion worth of Chinese imports last week. In retaliation, China hiked tariffs on $60 billion worth of U.S. goods earlier this week. The U.S. also raised the possibility of slapping tariffs on an additional $300 billion in goods from China.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 97.548 after seeing highs above 97.6 yesterday.
The Japanese yen traded at 109.45 against the dollar following a turbulent session yesterday that saw it swinging below 109.2 and above 109.6. The Australian dollar changed hands at $0.6923 after slipping from levels above $0.696 earlier in the week.
Oil prices rose in the morning of Asian trading hours, with the international benchmark Brent crude futures contract adding 0.26% to $71.96 per barrel, while U.S. crude futures gained 0.27% to $62.19 per barrel.
— CNBC’s Fred Imbert contributed to this report.