Asia markets: US-China trade, China data, currencies in focus
CNBC - Wed 15 May 09:33 GMT

Shares in Asia were higher on Wednesday following an earlier slump this week as trade tensions between the U.S. and China escalated.

Asia markets: US-China trade, China data, currencies in focus

  "The April number that came out this morning for China, industrial output and the retail sales are very ... depressing and disappointing and it's coming, of course, at a bad time where the trade tensions have escalated," Heng Koon How, head of markets strategy at Singapore's UOB, told CNBC's "Street Signs" on Wednesday.

  Those moves came after China announced on Monday its plans to raise tariffs on $60 billion worth of U.S. imports, starting on June 1.

  Beijing's move came after Washington last week increased tariffs from 10% to 25% on a bulk of Chinese imports.