sunny.png
Thursday October 17th, 2019 12:19PM

European markets down, Asia gains ahead of US-China talks

By The Associated Press
Related Articles
  Contact Editor

TOKYO (AP) — Shares fell in Europe on Tuesday as Brexit negotiations faltered and as tensions between the U.S. and China rose ahead of trade talks between the world's two largest economies.

Market sentiment was dented after the British government said that the chances of a Brexit deal with the European Union were fading fast, as the two sides held firm in their positions.

Prime Minister Boris Johnson insists the U.K. will leave the EU on Oct. 31 even without a deal, a result many economists say would disrupt British trade and plunge the country into recession.

France's CAC 40 slipped 1.1% to 5,459 in midday trading, while Germany's DAX fell 1.3% to 11,941. Britain's FTSE 100 fell 0.4% to 7,169.

U.S. shares were set to open lower with Dow and S&P 500 futures both sliding about 0.7% after the U.S. blacklisted a group of Chinese tech companies that develop facial recognition and other artificial intelligence technology. The Commerce Department says the technology is being used to repress China's Muslim minority groups.

The blacklist effectively bars U.S. firms from selling technology to the Chinese companies without government approval.

Separately, NBA Commissioner Adam Silver said the league is not apologizing for Houston Rockets general manager Daryl Morey's since-deleted tweet showing support for anti-government protesters in Hong Kong, even after China's state broadcaster canceled plans to show a pair of preseason games in that country later this week.

Silver is going to Shanghai on Wednesday and said he hopes to meet with officials and some of the league's business partners there in an effort to find some sort of common ground.

Trade representatives from the U.S. and China are expected to meet this week for talks, though reports suggest that the discussions will be narrow in scope. Analysts say prospects for a significant breakthrough are scant.

Markets in the Chinese mainland resumed trading after a weeklong holiday, with the Shanghai Composite climbing 0.3% to 2,913.57.

Hong Kong shares closed higher despite a bleak assessment by Chief Executive Carrie Lam of the impact of months of increasingly violent protests on the city's economy.

Addressing reporters after a long weekend of more turmoil, Lam said tourism arrivals were down by half and that hotels and retailers were suffering.

Hong Kong's third quarter economic data will definitely be "very bad", she said.

Elsewhere, Japan's benchmark Nikkei 225 gained 1.0% to 21,587.78 and Australia's S&P/ASX 200 added 0.5% to 6,593.40. South Korea's Kospi picked up 1.2% to 2,046.25. Hong Kong's Hang Seng climbed 0.3% to 25,893.40.

ENERGY: Benchmark crude oil lost 61 cents to $52.14 a barrel in electronic trading on the New York Mercantile Exchange. It fell 6 cents to $52.75 a barrel on Monday. Brent crude oil, the international standard, fell 65 cents to $57.70 a barrel.

CURRENCIES: The dollar fell to 106.84 Japanese yen from 107.25 yen on Monday. The euro rose to $1.0992 from $1.0971.

  • Associated Categories: Associated Press (AP), AP Sports, AP Online Basketball, AP Business, AP Business - Economy, AP Business - Financial Markets, AP Sports - NBA
© Copyright 2019 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
European markets down, Asia gains ahead of US-China talks
European markets down, Asia gains ahead of US-China talks
4:54AM ( 11 minutes ago )
Chinese state TV suspends 2 NBA preseason game broadcasts
Chinese state broadcaster CCTV has suspended broadcasts of two NBA preseason games set to be played in China
4:48AM ( 17 minutes ago )
EU migration chief urges support for migrant plan
The European Union's top migration official is urging EU member states to back a temporary plan to quickly get migrants off boats in the Mediterranean Sea and distribute them among willing countries
4:35AM ( 31 minutes ago )
Associated Press (AP)
Lam says Chinese military could step in if uprising gets bad
Hong Kong leader Carrie Lam warns the Chinese military could step in if an uprising in the city gets bad, but she reiterates the government still hopes to resolve the crisis itself
3:30AM ( 1 hour ago )
Company making Costco pajamas flagged for forced labor
US Customs crackdown on clothes, rubber gloves and charcoal citing labor abuse rattles American companies that buy from foreign factories where labor abuse is alleged.
3:21AM ( 1 hour ago )
Legos lying around? Toy maker tests way to recycle bricks
Lego, looking to keep its plastic bricks out of the trash, is testing a way for customers to ship their pieces away and get them into the hands of other kids
3:18AM ( 1 hour ago )
AP Business
The Latest: Trump admits inquiry makes it harder to do job
President Donald Trump says the impeachment inquiry is a "scam" that is driving his poll numbers higher, but admits it "makes it harder to do my job."
11:04PM ( 6 hours ago )
US signs limited deal with Japan on ag, digital trade
The United States and Japan have signed a limited trade agreement, a deal that would win back benefits American farmers lost when President Donald Trump pulled out of a broader Asia-Pacific pact his first week in office
5:15PM ( 11 hours ago )
Major US stock indexes veer broadly lower in choppy trading
A day of choppy trading on Wall Street ended Monday with stocks broadly lower as the market extended its losing streak into a fourth week
4:43PM ( 12 hours ago )
AP Business - Economy
Stocks fall as U.S, China prepare for trade talks
Stocks fall and extend losses into another week as the U.S. and China prepare for the latest round of trade negotiations
10:31AM ( 18 hours ago )
Global shares mixed with all eyes on China trade talks
World shares mixed as US, China prepare for trade talks
7:38AM ( 21 hours ago )
Global shares mixed on US jobs; eyes on China trade talks
World shares mixed as US, China prepare for trade talks
4:13AM ( 1 day ago )
AP Business - Financial Markets
Chinese state TV suspends 2 NBA preseason game broadcasts
Chinese state broadcaster CCTV has suspended broadcasts of two NBA preseason games set to be played in China
4:48AM ( 18 minutes ago )
EU migration chief urges support for migrant plan
The European Union's top migration official is urging EU member states to back a temporary plan to quickly get migrants off boats in the Mediterranean Sea and distribute them among willing countries
4:35AM ( 31 minutes ago )
Iran urges Turkey not to go ahead with attack on Syria Kurds
Iran urges Turkey to respect Syria's sovereignty, not go ahead with attack on Syrian Kurds
4:26AM ( 39 minutes ago )
Stolen truck crashes into cars in Germany, 8 hurt
German authorities are investigating why a man drove a stolen truck into a line of cars in a western town
4:25AM ( 41 minutes ago )
Climate activists block roads, protest in Australian cities
Activists are blocking roads and protesting in Australian cities for a second day of global protests by the Extinction Rebellion movement demanding more urgent actions on climate change
4:22AM ( 43 minutes ago )