Sydney — Asian shares sank on Wednesday and bonds rallied as investor sentiment soured over growing worries about world growth with trade tensions between Washington and Beijing showing no signs of easing. MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.5% after three straight days of gains. Chinese shares started on the back foot with the blue-chip CSI300 off 0.5%. Australian shares were 0.8% lower while Japan’s Nikkei faltered 1.4%. In an indication US markets will fall again on Wednesday, E-Minis for the S&P 500 were 0.4% lower. Risk aversion has increased globally in recent days as fears of world recession resurfaced amid disappointing macro data in major economies. Wins for eurosceptic parties in EU elections as well as a snap poll in Greece and political turmoil in Austria have added to the gloomy outlook. Italy’s dispute with the European Commission over its budget is also a major overhang for world markets. In Asia, focus remains on the ongoing Sino-US t...
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