Shanghai/New York — Asian stocks inched higher on Thursday as the US and Europe agreed to negotiations to ease barriers on trade, but ongoing concern about the outlook for global growth weighed on sentiment. A warning of slowing growth from Facebook, which sent the company’s stock down as much as 24% in after-hours trading on Wednesday, highlighted risks for investors and businesses in the current earnings season. Detroit car makers General Motors, Ford Motor and Fiat Chrysler also lowered their full-year profit forecasts on Wednesday, in an indication that trade war worries are far from over. Nearly three-quarters of economists polled by Reuters said trade protectionism would have a significant downward impact on global growth next year. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.1% on Thursday. After months of see-sawing prompted by uncertainty over trade, some markets were enjoying a relief rally, said Matt Simpson, senior market analyst at Faraday Rese...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.