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10 Sep 2018

• Shares in Europe struggled to make gains on Monday morning amid ongoing concerns over global trade.

The pan-Europe Stoxx 600 was flat with auto stocks falling the most. The sector is particularly vulnerable to trade tensions. Fiat shares were down by 1.3 percent in early deals.

• A sell-off in Chinese shares pulled Asian equities to a 14-month trough on Monday as investors braced for a potentially damaging escalation in the Sino-U.S. tariff row after U.S. President Donald Trump raised the stakes in the dispute with Beijing.

MSCI’s broadest index of Asia-Pacific shares outside Japan skidded 0.9 percent to the lowest since July 2017, extending losses from last week when it dropped 3.5 percent for its worst weekly showing since mid-March.

• Japan’s Nikkei share average snapped a six-day losing streak on Monday after robust revised GDP data countered head winds from trade war worries, with financials leading the gains on rise in U.S. bond yields after strong jobs data.

Japan’s Nikkei share average rose 0.30 percent to 22,373. The broader Topix gained 0.20 percent to 1,687.6, the first gains in eight sessions, with advancing issues outnumbering declining ones1,202 to 808.

• Stocks in China ended lower Monday after U.S. President Donald Trump threatened to impose tariffs on nearly all of China’s exports to the United States, and as a tweet from Trump shook suppliers of tech giant Apple.

At the close, the Shanghai Composite Index was down 32.81 points or 1.2 percent at 2,702.30.

The blue-chip CSI300 index was down 1.45 percent, with its financial sector sub-index lower by 0.94 percent, the consumer staples sector down 0.68 percent, the real estate index up 0.9 percent and healthcare sub-index down 1.85 percent.

Reference: Reuters, CNBC

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