Asian shares slip amid concern about possible Chinese slowdown
Investors have much to fret about, with the China-US trade war, China’s economy and higher US borrowing costs on their minds
Tokyo — Asian shares slipped on Monday as worry over China-US trade disputes, a possible slowdown in the Chinese economy and higher US borrowing costs tempered optimism despite a rebound in global equities late last week. Not helping the mood, oil prices jumped and Saudi Arabian shares tumbled on rising diplomatic tension between Riyadh and the West after the monarchy warned against threats to punish it over the disappearance of a journalist critical of its policies. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.8% while Shanghai shares were down 0.4% in early trade. Japan’s Nikkei dropped 1.4%, with carmaker shares hitting 13-month lows after Washington said it would seek a provision about currency manipulation in future trade deals with Japan. MSCI’s broadest gauge of the world’s stock markets was off 0.2% after a sizable 3.87% decline last week — its biggest since March — to a one-year nadir. The market shakeout has been blamed on a series of factors, includin...
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