Worries such an escalation would hurt Japan the most however weighed on the Nikkei, which shed 0.45 per cent. — Reuters pic
Risk assets took a hit in US trade on Friday following news the Trump administration is considering radical new financial pressure tactics on Beijing, including the possibility of delisting Chinese companies from US stock exchanges. Trading in Chinese markets was quiet ahead of a long break. Chinese share markets will trade only today this week ahead of the country’s National Day holiday, which runs until October 7.
The delisting of Chinese companies from US stock exchanges was part of a broader effort to limit US investment in Chinese companies, two sources briefed on the matter told Reuters. “Washington seems to be trying to limit Chinese companies’ activities by putting pressure on their funding,” he said. US data on Friday showed consumer spending barely rose in August and business investment remained weak, suggesting the American economy was losing momentum as the trade dispute drags on.
Source: News Formal (newsformal.com)
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