Asia-Pacific Stocks Decline As China Passes Resolution on Hong Kong Security Bill

Asia

Asia-Pacific stocks traded lower in morning trade on Friday, according to CNBC News.

Japan’s Nikkei 225 and the Topix index both dipped 0.56 percent, while South Korea’s Kospi slid 0.55 percent.

In Australia, the S&P/ASX 200 edged 0.84 percent lower.

Overall in the region, the MSCI Asia ex-Japan index shed 0.32 percent on Friday morning.

In the United States, the Dow Jones Industrial Average, the broadest equities gauge on the New York Stock Exchange, declined 0.6 percent to finish its trading day at 25,400.64. The S&P 500, barometer for the top 500 US stocks, shed 0.2 percent to close at 3,029.73, while the tech-heavy Nasdaq Composite dropped 0.5 percent to close at 9,368.99.

Investors are waiting for US President Donald Trump to give a briefing regarding China after Beijing passed a resolution allowing the development of the Hong Kong security bill, which will outlaw subversive and secessionist activities. The bill is supported by high-ranking Hong Kong officials but has been met by a wave of protests in the city.

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