A man looks at an electronic stock quotation board showing Japan’s Nikkei average outside a brokerage in Tokyo, Japan. Picture: REUTERS/TORU HANAI
Dashing previously upbeat expectations about a resolution to the Sino-US trade war was a Wall Street Journal report that said negotiations had hit a snag over farm purchases. Worries about violent antigovernment protests in Hong Kong also soured investor sentiment. “The markets have been pushing to new highs, but it’s been a bit of a bumpy ride,” said William O’Loughlin, portfolio manager at Rivkin Asset Management in Sydney.
US stocks have climbed to record levels recently, fuelled by interest rate cuts, positive earnings and signs the economy is bottoming out, but doubts about progress in US-China trade negotiations remain a huge risk to financial markets and global growth. Investors and economists will scrutinise the data to determine whether China can shake off the negative effects of punitive tariffs.
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JSE looks set to follow under-pressure Asian markets on ThursdayConcern over the US-China trade war and a fall by Tencent in Hong Kong points to a weaker start for the local bourse
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