Asia opens mixed ahead of Trump's China conference

Asian stock indices opened mixed with China, Australia, Hong Kong, and South Korea higher, while Japan and New Zealand gave up ground, as US President Donald Trump prepares a press conference on China today. 

Earlier Japanese data showed consumer prices rose 0.4%, up from 0.2% before, while core prices rose 0.2%. 

Japan's industrial production fell 9.1% in April m/m, while falling 14.4% y/y.

Japan's retail sales fell 9.6% in April m/m, and fell 13.7% y/y, as the unemployment rate rose to 2.6% from 2.5%. 

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. 

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. 

Thousands have protested the security law in Hong Kong across the weekend, while China's foreign minister said some US political forces are using bilateral relations "hostage" while pushing both sides to a new cold war. 

Japan's TOPEX fell 0.39%, while Nikkei 225 shed 0.28% to 21,854.

China's CSI 300 rose 0.33%, while Shanghai climbed 0.24% to 2,853. 

Hong Kong's Hang Seng declined 0.30%, as South Korea's KOSPI shed 0.29% to 2,022. 

New Zealand's NZX 50 rose 0.04%, while Australia's S&P/ASX 200 tumbled 1.04% to 5,790.