Asia shares slide amid Hong Kong chaos
Asian shares sank on Monday, the safe haven yen rose and gold jumped as fresh violence broke out in Hong Kong, while uncertainty still remained over whether the US and China could end their damaging trade war.
Japan’s Nikkei gave up early gains to drift away from a recent 13-month high after data showed the country’s core machinery orders fell for a third consecutive month.That left MSCI’s broadest index of Asia-Pacific shares outside Japan down 0.5%. In Asian hours on Monday, E-minis for the S&P 500 were 0.25% lower indicating a weak open later in the day.Gold, which rises during times of uncertainty, rebounded from a three-month low touched on Friday to be last up 0.3% at $1,462.11 an ounce.
That was a more upbeat tone than just a few days earlier when he had stressed that the White House would not agree to a full rollback of existing tariffs, remarks that hit stock prices and the dollar. “It will be the US-China trade talks that will continue to dictate the daily swings in sentiment this week,” said Jeffrey Halley, senior analyst at Oanda.
Analysts said the outlook for equities depends highly on US economic data as a US-China trade agreement would help bolster manufacturing and industrial sectors.
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