China exports grow about 24% in July amid strong electronics demand

Tokyo’s Nikkei slips 0.3% as AI-chip selling tapers

Shares were mixed across Asia on Friday after a modest retreat on Wall Street, while oil prices gained more than 1%, according to the Associated Press.

Selling of computer chipmakers and other stocks tied to the boom in artificial intelligence appeared to taper off a bit, the report said. Tokyo’s Nikkei 225 lost 0.3% to 65,500.10, South Korea’s Kospi dropped 0.8% to 6,242.88, and Taiwan’s Taiex fell 0.4%.

The Shanghai Composite index added 0.8% to 3,931.54 after China reported its exports grew about 24% in July, a slightly slower but still robust pace, on strong demand for electronics and other high-tech products. China’s huge trade surplus narrowed last month, and imports also slowed.

Hong Kong’s Hang Seng edged 0.2% higher, to 25,582.34. In Australia, the S&P/ASX 200 slipped less than 0.1%, to 9,265.20.

On Thursday, stocks declined on Wall Street as oil prices rose and more company earnings reports rolled in, according to the Associated Press.