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7 Sep 2018

• European shares were mostly mixed on Friday morning, as investors remained cautious amid new trade threats.

The pan-European Stoxx 600 was trading marginally below the flatline, with the various sectors taking different directions. Travel and leisure stocks were under pressure after some rating downgrades, including on Sodexo, which fell 3percent in early deals.

· Asian shares carved out a 14-month trough on Friday as investors feared a new salvo of Sino-U.S. tariffs could come at any moment, while a slump in U.S. chip stocks rippled through the tech-heavy region.

MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.3 percent, having earlier reached its lowest since mid-July last year.

· The Nikkei extended its decline to a sixth straight session on Friday, dropping to a 2-1/2-week low as investors sold chip equipment makers and fretted over reports that U.S. President Donald Trump could be contemplating taking on Japan over trade.

The benchmark share average dropped 0.8 percent to 22,307.06, its lowest closing level sine Aug. 21. The index was down for the sixth day running, its longest losing streak since late January.

For the week, the Nikkei tumbled 2.4 percent, its biggest weekly fall since mid-March.

· Stocks in China ended higher on Friday, but the Shanghai Composite index and blue-chip shares closed lower for the week, as a deadline for public comments on fresh U.S. trade tariffs expired.

At the close, the Shanghai Composite index was up 10.71 points or 0.4 percent at 2,691.59. The index is down 0.8 percent for the week. The blue-chip CSI300 index ended 0.45 percent higher, but was down 1.7 percent for the week.

Reference: Reuters, CNBC

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