Asian stocks mixed after Trump threatens Mexico tariffs

A man walks by an electronic board displaying stock prices at a brokerage house in Beijing Thursday, June 6, 2019. Asian stocks were mixed on Thursday as traders kept a close watch on impending U.S. tariffs on Mexico amid a standstill in its talks with China. (AP Photo/Andy Wong)
A woman walks by an electronic board displaying stock prices at a brokerage house in Beijing Thursday, June 6, 2019. Asian stocks were mixed on Thursday as traders kept a close watch on impending U.S. tariffs on Mexico amid a standstill in its talks with China. (AP Photo/Andy Wong)
Investors chat as they monitor stock prices at the brokerage house in Beijing Thursday, June 6, 2019. Asian stocks were mixed on Thursday as traders kept a close watch on impending U.S. tariffs on Mexico amid a standstill in its talks with China. (AP Photo/Andy Wong)
An investor reacts as he monitors stock prices at the brokerage house in Beijing Thursday, June 6, 2019. Asian stocks were mixed on Thursday as traders kept a close watch on impending U.S. tariffs on Mexico amid a standstill in its talks with China. (AP Photo/Andy Wong)
A man reacts as he checks stock prices at the brokerage house in Beijing Thursday, June 6, 2019. Asian stocks were mixed on Thursday as traders kept a close watch on impending U.S. tariffs on Mexico amid a standstill in its talks with China. (AP Photo/Andy Wong)
An investor checks stock prices at the brokerage house in Beijing Thursday, June 6, 2019. Asian stocks were mixed on Thursday as traders kept a close watch on impending U.S. tariffs on Mexico amid a standstill in its talks with China. (AP Photo/Andy Wong)

SINGAPORE — Asian stocks were mixed on Thursday as traders kept a close watch on impending U.S. tariffs on Mexico while trade talks with Beijing remained at a standstill.

Japan's Nikkei 225 index added 0.3% to 20,832.46 while the Shanghai Composite index lost 0.5% to 2,848.34. The benchmark in Shenzhen, a smaller, more domestic-oriented market, tumbled 1.5% to 1,471.73. Hong Kong's Hang Seng added 0.3% to 26,965.76 and Australia's S&P ASX 200 advanced 0.5% to 6,392.20. Shares fell in Taiwan and Singapore but rose in the Philippines. South Korean markets were closed for a holiday.

American and Mexican officials said late Wednesday that progress was being made at immigration talks at the White House, but President Donald Trump tweeted that it was "not nearly enough."

Trump, who was visiting Ireland, said talks would resume Thursday "with the understanding that, if no agreement is reached, Tariffs at the 5% level will begin on Monday, with monthly increases as per schedule."

If an agreement isn't reached, the 5% tax on imports from Mexico will kick in on Monday, adding to costs for American manufacturers and consumers. The tax may eventually increase to 25%.

It is unclear how the U.S. will gauge that Mexico has successfully stemmed the migrant flow from Central America. The Department of Homeland Security announced separately that border arrests reached 132,887 in May, the highest level in more than a decade.

In other news, the U.S. and China concluded their 11th round of trade talks last month with no agreement. No further talks have been arranged.

On Wall Street, broad gains by technology, industrial and health care companies lifted indexes Wednesday. Traders paid little attention to a report showing that private U.S. companies added the fewest jobs in nine years last month. The report may have been seen as positive in that it might encourage the Federal Reserve to cut interest rates.

The S&P 500 index gained 0.8% to 2,826.15 and the Dow Jones Industrial Average jumped 0.8% to 25,539.57. The Nasdaq composite rose 0.6% to 7,575.48. But the Russell 2000 index of smaller company slipped 0.1% to 1,506.79.

ENERGY: Benchmark U.S. crude picked up 14 cents to $51.82 per barrel in electronic trading on the New York Mercantile Exchange. It gave up $1.80 to settle at $51.68 a barrel on Wednesday. Brent crude oil, the international standard, added 18 cents to $60.81 per barrel. The contract shed $1.34 to $60.63 per barrel in the previous session.

CURRENCIES: The dollar slipped to 108.22 Japanese yen from 108.46 yen late Wednesday. The euro strengthened to $1.1231 from $1.1221.

___

AP Business writers Damian J. Troise and Alex Veiga contributed.

People also read these

Top Indonesia judge gets 8 years in prison for...

Sep 4, 2017

Indonesia's corruption court has sentenced one of the country's top judges to eight years in prison...

The Latest: Tourists look for flight info or...

Nov 28, 2017

Thousands of tourists remain stuck on Indonesia's island of Bali after its airport was closed for a...

Bali flights resume, but volcanic ash still...

Nov 30, 2017

Flights trickled out of Bali a day after its airport reopened but the erupting volcano there shut...

Stranded in Bali tourists lampooned online for...

Dec 1, 2017

Australian tourists who complained about being stranded on tropical Bali when volcanic ash closed...

Indonesia politician's graft trial delayed by...

Dec 13, 2017

A top Indonesian politician accused of involvement in one of the country's biggest corruption...