Trade worries take their toll on Asian shares
Weak corporate earnings in Europe add to concern about global growth and outweigh hopes for progress in Brexit negotiations
Shanghai — Asian shares slipped on Friday as trade tensions continued to hurt sentiment, while weak corporate earnings in Europe added to worries about global growth and outweighed hopes for progress in Brexit negotiations. With US markets closed overnight for Thanksgiving and Japan on holiday on Friday, trading activity was muted. Regional indicators turned lower after China’s markets opened. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.2%, giving up early, small gains as Chinese blue-chips dropped 1.4% and the Shanghai Composite index lost 1.6%. China’s markets have been stuck in a slump as the country’s trade war with the US has exacerbated worries about slowing growth. Few analysts expect sustained improvement for Chinese shares even if US and Chinese leaders make progress in mending ties at a Group of 20 (G20) meeting in Argentina at the end of the month. At this stage, some economists doubt the G20 talks will bring progress. Prakash Sakpal of ING in Singap...
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