Global stocks slightly lower in muted trade due to US-China spat
Investors seek safety in bonds, the yen and Swiss franc — as US considers sanctions on another Chinese tech company, Hikvision
London/Tokyo — Global stocks were slightly lower on Wednesday as investors sought safety in bonds, the yen and Swiss franc in muted trade amid renewed worries over the US-China spat after reports Washington has another Chinese tech firm in its sights. Relief over Washington’s temporary relaxation of curbs against China’s Huawei Technologies evaporated after reports that the White House is considering further sanctions on Chinese video surveillance firm Hikvision. Fears of another blacklisting reinforced worries that US President Donald Trump is looking beyond sealing a trade deal with China to a potentially bigger battle aimed at curbing Beijing’s technology ambitions. “I think the debate is just starting about what the implications of all this could be if it escalates. It’s my biggest concern,” said Simon Webber, lead portfolio manager on the global and international equities team at Schroders. The limits imposed on Huawei last week but eased on Monday sent shivers through global ...
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