The Stoxx Europe 600 fell 0.6 per cent, with energy among the few industries bucking the trend after BP Plc hiked its dividend and accelerated share buybacks to the fastest pace yet after profits surged. An Asian share index slid the most in three weeks, with some of the steepest falls in Hong Kong, China and Taiwan. Contracts on the S&P 500 and Nasdaq 100 slumped as much as 0.8 per cent as July’s equity market rebound stumbled into August.
The visit may end up being another “short-term dislocation” for markets but “it’s always concerning when they do happen,” Ayako Yoshioka, senior portfolio consultant at Wealth Enhancement Group, said on Bloomberg Radio. “Over the long run we fear that a Taiwan war is more likely than not” according to Matt Gertken, chief geopolitical strategist at BCA Research Inc. He recommends government bonds over equities, US defensive sectors and haven assets.
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