Tokyo rose 0.26% as Chinese markets ended the session lower.

Major Asian stock markets enjoyed mixed fortunes on Wednesday, with Tokyo closing slightly higher despite the yen's rally that penalizes Japanese exports, while Chinese stock markets suffered from concerns related to Sino-American tensions.

In Tokyo, the flagship Nikkei index gained 0.26% to 23,110.61 points, while the broader Topix index rose 0.18% to 1613.73 points.

Stocks were little changed at the opening of the session in the Japanese capital, despite the gains of Wall Street the day before, where the broader S&P 500 index, which represents the 500 largest companies listed on Wall Street, reached a record level, above the previous peak in February, before the COVID-19 pandemic.

But investors have started buying "in the troughs," when stocks are low, helping the Nikkei index close in the green after two sessions of decline.

Investor sentiment "is not bad," noted Shinichi Yamamoto of Okasan Online Securities. But they "are slightly worried about the strong yen" that penalizes exporting companies, he told AFP.

The fall in Japanese exports continued in July, according to official data released Wednesday shortly before the opening of the Tokyo Stock Exchange, marking a double-digit decline for the fifth consecutive month, amid a difficult recovery in the global economy in the face of the resurgence of the coronavirus.

Chinese stock markets ended the session lower, as concern over Sino-US tensions outweighed hopes that US lawmakers could agree on an economic aid plan.

China on Tuesday responded to the latest US sanctions against telecom giant Huawei by accusing the US of "abuse of power" and calling on it to "correct" its "mistakes", the latest episode in a long-running trade conflict between the two powers.

Trade talks initially scheduled last Saturday between the two countries, to take stock of the agreement they had signed in January, had also been postponed.

In Hong Kong, the Hang Seng index fell 0.74% to 25,178.91 points. The Shanghai Composite Index fell 1.24 percent to 3408.13 points, while the Shenzhen Composite Index dropped 1.95 percent to 2253.68 points.

ON THE VALUES SIDE

DEMAE-CAN CLIMBS AFTER RUMORS: the stock of the Japanese delivery company, known in particular for its home meal delivery service, jumped 8.21% to 2,240 yen during the session, after rumors in the Japanese media the day before about its interest in a takeover of Uber Eats Japan. Demae-can issued a statement of denial on Wednesday.

ON THE CURRENCY AND OIL SIDE

The yen was stable against the dollar after rising in the morning, with a dollar worth 105.43 yen around 08:30 GMT, up from 105.41 yen on Tuesday at 21:00 GMT.

The European currency rose slightly against the yen, with one euro worth 125.91 yen against 125.77 yen the day before.

The greenback fell against the euro, with one euro trading at $1.1943 from $1.1931 on Tuesday at 21:00 GMT.

Oil prices were down after ending near equilibrium the day before. OPEC+ ministers are due to meet on Wednesday by videoconference to discuss the production cuts they have imposed since May in response to the fall in demand caused by the Covid-19 pandemic.

Around 08:30 GMT the price of a barrel of US WTI crude lost 1% to $ 42.46 and that of the barrel of Brent from the North Sea fell by 1.08% to $ 44.97.