Fear about US-China trade talks and dire German data push global stocks down

Traders work at their desks while screens show market data at CMC Markets in London, Britain. Picture: REUTERS/HENRY NICHOLLS

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. “We are expecting quite a constructive agreement between the US and China when it comes to trade,” said AllianceBernstein China Portfolio Manager John Lin. He added it was probably now a consensus view among major investors and if it proved right, would raise other questions such as whether China’s government would “keep its foot on the pedal or ease off a bit.”

Bloomberg reported on Thursday the US wanted to set a 2025 target for China to meet trade pledges. The plan would see China committing to buy more US commodities, including soybeans and energy products, and allow full foreign ownership for US companies operating in China as a binding pledge.Traders were also squaring off positions ahead of US jobs data due on Friday after earlier disappointments this week.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian shares rise amid optimism around US-China trade talksChinese stocks lead equities stronger on the hope Washington and Beijing are making progress, while global bond yields move higher after a prolonged slide
Source: BDliveSA - 🏆 12. / 63 Read more »

Rand gains on hopes US-China trade war is easingDemand for emerging-market currencies grew after the Financial Times reported China and the United States had resolved most of the issues standing in the way of a trade deal.
Source: ewnupdates - 🏆 30. / 53 Read more »

Rand range-bound as market eyes US-China talksUS President Donald Trump is expected to meet Chinese Vice-Premier Liu He later on Thursday amid speculation a deal is close
Source: BDliveSA - 🏆 12. / 63 Read more »

Global stocks hit six-month highSigns of progress in US-China trade talks and decent factory activity data from China and the US has lifted investor sentiment
Source: BDliveSA - 🏆 12. / 63 Read more »