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Asian equities slump on anxiety over trade
On Friday, Asian equities lost ground due to the fact that market participants worried about a broadening global economic deceleration, with market sentiment affected by the lack of any upbeat signs for a resolution in the US-China trade conflict.
Safe-haven government bonds gained against the backdrop of soaring anxiety over the global outlook, with Japanese and German debt yields diving to their lowest value for more than two years.
Spreadbetters actually anticipated EU shares to start mixed, with Germany’s DAX rebounding by 0.05%, France’s CAC standing still, and Britain’s FTSE rising by 0.1%.
MSCI's index of Asia-Pacific stocks went down by 0.5%, rebounding from a four-month maximum hit yesterday. For the week the index dived by 0.1%.
The Hang Seng index dipped by 0.25% in Hong Kong, while South Korea's KOSPI rebounded by 1.1%. In Japan, Nikkei dived by about 2%.
On Thursday, the European Commission steeply reduced its estimates for euro zone economic surge in 2019 and also 2020, powering worries that a global deceleration is spreading to the EU as investors and companies grapple with trade frictions.
Contributing to the downbeat mood, American leader told he didn’t intend to meet with Chinese Leader Xi Jinping before a March 1 deadline to come to a compromise.
US President’s stance worried traders hoping for a resolution to the ongoing trade conflict between the world's leading economies. Wall Street stocks dived overnight. Eventually, the Dow decreased by 0.9 rebounding from a two-month maximum recorded midweek on positive corporate outcomes.
The 10-year American Treasury gains extended its overnight dive to a one-week minimum of 2.643%. Besides this, the 20-year Japanese government bond gains went down to a 27-month minimum of 0.400%.
As for the 10-year German bond gains, they tumbled to 0.105%, demonstrating the lowest outcome since November 2016.
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