Asia opens mixed but mostly higher

Asian stock indices opened the fourth session of the week mixed with Japan, China, Australia, South Korea higher, while New Zealand and Hong Kong lost ground, while markets assess efforts to reopen global economies. 

Reserve Bank of Australia Governor Philip Lowe said in earlier testaments he doesn't believe the GDP contraction from Covid 19 to be as severe as feared, bolstering appetite. 

US Secretary of State Mike Pompeo told Congress that Hong Kong is no longer considered independent from China, raising questions of the trade relations with the special zone. 

US President Donald Trump said he'll announce counter measures for China's Hong Kong acts by the end of the week, with reports indicating Washington might impose sanctions on Chinese officials, with possible freezing to assets of Chinese companies and officials. 

The Chinese Parliament passed a national security law for Hong Kong that gives Beijing more control over the semi-independent city following months of protests. 

Officials in Hong Kong warned of "growing terrorism" in the city to justify the new measures. 

Japan's TOPEX rose 1.61%, while Nikkei 225 rose 2.01% to 21,849. 

China's CSI 300 added 0.12% to 3,850, while Shanghai climbed 0.11% to 2,839. 

Hong Kong's Hang Seng shed 0.46%, while South Korea's KOSPI edged up 0.25% to 2,036. 

New Zealand's NZX 50 shed 0.58%, while Australia's S&P/ASX 200 rallied 1.84% to 5,881.