Stocks in Asia Pacific traded mixed Thursday morning as investors continued to watch tensions between the U.S. and China.

South Korea’s Kospi led gains among the region’s major markets as it rose 1.76%, with shares of automaker Hyundai Motor soaring more than 5%.

Mainland Chinese stocks were mixed in early trade, with the Shanghai composite up around 0.2% while the Shenzhen component dipped 0.3%. Hong Kong’s Hang Seng index traded fractionally higher.

In Japan, the Nikkei 225 gained 0.32% in morning trade while the Topix index added 0.28%.

Shares in Australia edged higher as the S&P/ASX 200 gained 0.72%.

Overall, the MSCI Asia ex-Japan index traded 0.72% higher.

On Wednesday, U.S. Secretary of State Mike Pompeo said that President Donald Trump’s administration wants to ban “untrusted” Chinese apps such as TikTok and WeChat from U.S. app stores. That development followed tensions between Washington and Beijing heating up in recent weeks.

Meanwhile, a range of issues remains unresolved among lawmakers stateside in coronavirus relief negotiations, with the White House threatening to act on its own if it fails to reach a deal with Democrats.

On the earnings front, Japanese automaker Toyota Motor is set to post its quarterly financial results on Thursday.

Shares of Singapore bank DBS Group rose more than 1.5% after the firm reported a second-quarter net profit that beat estimates despite falling about 22% from last year. DBS said its profit for the second quarter came in at 1.25 billion Singapore dollars ($912.9 million). That compared against an average estimate of 1.19 billion Singapore dollars, according to Refinitiv data. 

Overnight stateside, the S&P 500 advanced 0.6% to close at 3,327.77 while the Nasdaq Composite gained 0.4% to end its trading day at 10,998.40. The Dow Jones Industrial Average rallied 373.05 points, or 1.4%, to 27,201.52.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 92.704 in a volatile trading week that has seen it decline from levels above 93.6.

The Japanese yen traded at 105.54 per dollar after strengthening from levels above 105.6 against the greenback yesterday. The Australian dollar changed hands at $0.7207 following its rise from levels below $0.715 this week.

Oil prices inched higher in the morning of Asian trading hours, with international benchmark Brent crude futures up 0.2% to $45.26 per barrel. U.S. crude futures hovered above the flatline at $42.20 per barrel.

Here’s a look at what’s on tap:

• Japan: Toyota Motor quarterly earnings