Asian shares sag as traders fret about dismal global outlook
Equities slip as a deteriorating global economic outlook outweigh further signs of progress in trade talks between China and the US
Shanghai — Shares in Asia slipped on Friday as a deteriorating global economic outlook outweighed further signs of progress in trade talks between China and the US. After inching higher in early trade, MSCI’s broadest index of Asia-Pacific shares outside Japan fell as more markets opened across the region, dipping 0.1%. Chinese blue-chip shares were down 0.1% in late-morning trade after briefly breaking into positive territory. After surging on Monday on optimism over trade talks, China’s major equity indexes have faltered on investor concerns over slowing domestic growth and on indications that Chinese authorities will resort to a benchmark lending rate cut only as a last resort to boost the economy. Growth in China’s new home prices fell to a nine-month low in January as broader economic weakness increasingly weighs on the property sector. Seoul’s Kospi lost 0.3%. Shares in Taiwan were also 0.3% lower. Japan's Nikkei was down 0.4% after data showed core consumer inflation accelera...
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