The MSCI global equity gauge slips from near-record highs with the Euro Stoxx 600 flat after opening lower
London — World shares slipped on Friday as a leading index strained for a record high, with nerves gnawing away from Asia to Europe over how, or when, the US and China can agree a truce in their damaging trade war.
Asia had earlier endured a sombre session, with MSCI’s broadest index of Asia-Pacific shares excluding Japan falling 1.1%. There, Hong Kong led the dip, losing 2.1%. South Korean shares and Japan’s Nikkei also fell. China warned the US on Thursday that it would take “firm counter-measures” in response to US legislation backing anti-government protesters in Hong Kong.
Still, investors are on the whole betting that despite wild cards, such as the US legislation, it ultimately remains in the interest of both Washington and Beijing to move forward with talks to get a trade deal. Amid a quiet day in holiday-thinned trading, investors had their eye on eurozone flash inflation figures, due at 10am GMT. In early trade, eurozone 10-year bond yields were little changed. Germany’s benchmark bund yield was at -0.36%, off one-month lows hit during the previous session.With few major news catalysts in the China-US trade talks, major currencies stayed in tight trading ranges.
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