Worsening relations between the United States and China threw Asian markets into a mixed state and sent gold to a record high Monday.
The Nikkei index in Tokyo had dropped 0.5% at the time of its closing bell. The Hang Seng index in Hong Kong lost 0.1%, while Shanghai’s Composite was little changed.
Sydney’s S&P/ASX index was down less than 0.1%. The KOSPI in Seoul is up 1.1%, and Taipei’s TSEC soared 2.3%. The Sensex in Mumbai is 0.3% lower in late afternoon trading.
Gold is selling at a record $1,931.10 per ounce as investors looked to park their money in safe haven assets after the U.S. consulate in Chengdu, China was forced to close in retaliation by Beijing for the closure of its consulate last week in Houston, Texas.
In oil trading, U.S. crude was selling at $41.14 per barrel, down 0.3%, and Brent crude was selling at $43.17 per barrel, also down 0.3%.
All three major U.S indexes were trending positively in futures trading Monday.