clearn.png
Thursday August 6th, 2020 3:37AM

World shares post modest losses in ‘Black Friday’ retreat

By The Associated Press
Related Articles
  Contact Editor

BEIJING (AP) — Shares fell in Europe after another day of losses in Asia, though there was no sign that worries over China-U.S. tensions would lead to a “Black Friday” sell-off.

U.S. markets were closed Thursday for the Thanksgiving holiday and will have a half-day session on Friday.

Britain’s FTSE 100 dropped 0.5% to 7,377.46 while the CAC 40 in Paris shed 0.3% to 5,895.48. Germany’s DAX skidded 0.5% to 13,184.47. U.S. futures also were lower, with the contract for the Dow Jones Industrial Average falling 0.4% to 28,049.00. The future for the S&P 500 also lost 0.4%, to 3,142.70.

Stock benchmarks have fallen since President Donald Trump signed legislation supporting human rights in Hong Kong, potentially increasing tensions as the U.S. and China negotiate over ending their trade war.

New U.S. tariffs are set to kick in on many Chinese-made products as of Dec. 15. Negotiators have said they might soon have a preliminary deal that could avert that.

Beijing reacted with fury but no specific retaliatory measures Thursday to Trump’s decision. Since the bills got nearly unanimous approval by both houses of Congress his decision was not unexpected.

China has stayed silent on the issue of whether the U.S. move, viewed as meddling in internal Chinese affairs, might derail the trade talks.

In Asian trading Friday, Japan’s Nikkei 225 index lost 0.5% to 23,293.91, while the Hang Seng in Hong Kong sank 2.0% to 26,335.06. The Shanghai Composite index shed 0.6% to 2,871.98 and Australia’s S&P ASX 200 gave up 0.3% to 6,846.00. South Korea’s Kospi slipped 1.5% to 2,087.96. Shares also fell in Taiwan and Southeast Asia.

Japan reported Friday that its factory output fell 4.2% in October, much worse than forecast and the biggest month-on-month drop since January 2018. The decline could mean industrial production will decline by 4% in the October-December quarter from the previous quarter, Tom Learmouth of Capital Economics said in a commentary.

He noted that forecasts by manufacturers do not suggest output is likely to rebound soon.

Neighboring South Korea reported its industrial output declined 1.7% in October.

“It suggests the U.S.-China trade dispute continues taking its toll on Asian economies, despite signs of some green shoots,” Jeffrey Halley of OANDA said in a report.

In energy trading, benchmark crude oil lost 1 cent to $58.10 per barrel in electronic trading on the New York Mercantile Exchange.

Brent crude oil, the international standard, gave up 12 cents to $63.15 per barrel.

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Economy, AP Business - Financial Markets
© Copyright 2020 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
World shares post modest losses in ‘Black Friday’ retreat
World shares post modest losses in ‘Black Friday’ retreat
3:45AM ( 14 minutes ago )
Australia fire survivors join global climate protests
People affected by dramatic wildfires in Australia have joined young environmental activists to protest the government’s stance on climate change
3:43AM ( 16 minutes ago )
2 K-pop stars get prison terms for sexual crimes
South Korean court sentences two K-pop stars over sexual crimes
3:14AM ( 46 minutes ago )
Associated Press (AP)
Sabbath buses barrel through Israel’s religious-secular rift
Tel Aviv has taken a major step to cement its status as Israel’s secular Mecca, launching a public transit system operating on Saturdays and redrawing the lines in the Jewish state’s culture wars between religious and secular citizens
2:04AM ( 1 hour ago )
Japan’s ex-Prime Minister Yasuhiro Nakasone dead at 101
Yasuhiro Nakasone, former nationalist Japanese Prime Minister who tried to change his country’s pacifist policies, has died at age 101
1:27AM ( 2 hours ago )
Shorter shopping season means a more intense scramble
A shorter holiday shopping season means a more intense scramble for both retailers and customers
12:38AM ( 3 hours ago )
AP Business
European business leaders lose confidence amid trade tension
A survey of dozens of Europe’s top business executives shows their optimism is waning due to trade tensions and other geopolitical uncertainties
3:25PM ( 12 hours ago )
World shares retreat after Trump approves Hong Kong bill
World shares are down after U.S. President Donald Trump signed a bill expressing support for human rights in Hong Kong
8:59AM ( 19 hours ago )
World shares retreat after Trump approval of Hong Kong bill
World shares retreat after Trump approval of Hong Kong bill
3:59AM ( 1 day ago )
AP Business - Economy
Apache man moving ‘home’ to protest copper mine in Arizona
An Apache man says he’s moving to his ancestral home in a mountainous area of central Arizona to protest a planned copper mine
5:25PM ( 1 day ago )
In Lebanon, financial collapse and security concerns loom
Hundreds of Lebanese women have marched across a former front line in the Lebanese capital carrying white roses and Lebanese flags to denounce overnight clashes between rival groups that injured dozens of people
1:57PM ( 1 day ago )
Stocks edge higher over continued trade optimism
U.S. stocks edged higher in midday trading on Wednesday as investors remained optimistic about trade negotiations while a report showed that the economy continued growing at a modest rate over the summer
12:08PM ( 1 day ago )
AP Business - Financial Markets
Australia fire survivors join global climate protests
People affected by dramatic wildfires in Australia have joined young environmental activists to protest the government’s stance on climate change
3:43AM ( 17 minutes ago )
2 K-pop stars get prison terms for sexual crimes
South Korean court sentences two K-pop stars over sexual crimes
3:14AM ( 46 minutes ago )
Search in Albania quake reduced, death toll at 49
The operation to find survivors and recover bodies from Albania's deadly earthquake is winding down, with rescue crews limiting their efforts to a collapsed beachfront hotel in the port town of Durres
2:58AM ( 1 hour ago )
Mannion’s layup gives No. 14 Arizona 93-91 win vs Pepperdine
Nico Mannion’s fast-break layup with 4 seconds remaining gave No. 14 Arizona a 93-91 victory over Pepperdine at the Wooden Legacy
2:53AM ( 1 hour ago )
The Latest: Trump, in Afghanistan, says Taliban wants deal
Trump, visiting Afghanistan, says Taliban wants to make a deal
2:43AM ( 1 hour ago )