Stocks stop short of new peaks as Sino-U.S. tensions weigh

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Global shares ticked up on Friday, but hesitated to test an all-time peak as inv...

TOKYO - Global shares ticked up on Friday, but hesitated to test an all-time peak as investors worried a new U.S. law backing Hong Kong protests could derail Washington’s and Beijing’s efforts to end their trade war.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS also ticked up 0.05% in early Friday trade whileU.S. S&P 500 mini futures ESc1 were down 0.1%. New York markets were shut on Thursday for Thanksgiving holiday and with many investors seen away also on Friday, uncertainties remain on how U.S. markets will perceive the latest clash between Washington and Beijing over Hong Kong.

On the whole, investors are now betting that while the law spoils the mood it would not change the game, underpinning many risk assets. One exception was the Chilean peso, which has plunged 3.5% so far this week to an all-time low, prompting the central bank to unveil $20 billion foreign currency interventions program.

 

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