Fear about US-China trade talks and dire German data push global stocks down
Bloomberg reported on Thursday that the US wanted to set a 2025 target for China to meet trade pledges.
London — European and Asian shares stepped back from eight-month highs on Thursday, as investors took money off the table amid renewed concerns about US-China trade talks and as dire data from Germany signalled trouble for Europe. Germany’s figures showed industrial orders fell at their sharpest rate in more than two years in February, driven largely by a slump in foreign demand. It compounded signs that Europe’s largest economy has had a feeble start to the year and left the euro stuck at $1.12, sent German bund yields back below zero in the bond market and ended a four-day run of gains for share traders. MSCI’s broadest index of Asia shares also lost 0.4% overnight after five straight days of gains had taken it to the highest level since late August. Losses were led by Australia and New Zealand while Hong Kong, the Philippines and Indian markets were also in red. Chinese shares were firmer with the blue-chip index up 0.6% while Japan’s Nikkei paused near a recent one-month top. An...
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.