Sydney — Financial markets were on edge on Friday as weak US economic data added to the fear of a global slowdown and pushed investors to bet the Federal Reserve could reverse policy and start cutting interest rates before the end of this year. But nerves were soothed somewhat by news that the US and China would hold vice-ministerial level talks next week on their trade dispute, with the Chinese blue-chip index turning 0.4% higher. US stock futures, which had slipped in early Asian trade, also reversed early losses. E-minis for the S&P 500 edged up 0.1% while Nasdaq futures climbed 0.2%. Japanese shares skidded on their first trading day of the year on Friday, with the Nikkei spiralling about 3.6% lower on growth worries and a sharp jump in the yen. MSCI’s index of Asia-Pacific shares outside Japan dipped 0.1% to near two-month lows, weighed by a drop of about 1% in Australian shares. Fears that the China-US trade war would drag down world growth roiled risk-sensitive assets in 2018...
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.