TOKYO - Global shares dived on Thursday as a fresh row between Washington and Beijing over US bills on Hong Kong could complicate their trade negotiation and delay a"phase one" deal that investors had initially hoped to be inked by now.
Japan's Nikkei slid 1.65 per cent, South Korea's Kospi lost 1.59 per cent while Australia's ASX 200 was down 1.23 per cent.US S&P500 futures dropped 0.2 per cent in early Asian trade, a day after MSCI's broadest gauge of world stocks fell 0.4 per cent, the biggest fall since early October.The US House of Representatives on Wednesday passed two bills intended to support protesters in Hong Kong and send a warning to China about human rights.
Trade experts and people close to the White House said completion of a"phase one" US-China trade deal could slide into next year, as Beijing presses for more extensive tariff rollbacks, and the Trump administration counters with heightened demands of its own. Trade jitters sent the 10-year US Treasuries yield down to 1.747 per cent, near its lowest levels in three weeks and down more than 20 basis points from a Nov. 7 peak of 1.973 per cent, a three-month high.
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