Risk aversion sets in again, weighing on stocks and lifting safe-haven assets
Tokyo — Stock markets in Asia tracked their global peers lower while the safe-haven dollar hovered near a two-week high on Wednesday, as heightened concern over international trade conflicts curbed investor appetite for riskier assets.MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.5%. The Shanghai composite index retreated 0.4%. Australian stocks lost 0.75%, South Korea’s Kospi dropped 0.1% and Japan’s Nikkei shed 0.35%. US stocks slipped on Tuesday as a drop in heavyweights Facebook and Nike added to worries over trade negotiations between the US and other major economies.MSCI’s gauge of stocks across the globe shed about 0.5% the previous day."The US-Canada talks are due to resume today and this keeps trade issues at the forefront, with a wait-and-see mood prevailing in the equity markets," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management in Tokyo.Discussions between the US and Canada are expected to resume on Wednesday after the...
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