World shares mixed on jitters over U.S. policy toward China

BANGKOK — World shares meandered on Monday after talk of limits on U.S. stock listings by Chinese companies undermined hopes for progress in trade negotiations.

Chinese manufacturing data slightly exceeded analysts’ estimates but failed to fully offset renewed concern over the trade war between the world’s two largest economies.

Germany’s DAX was flat at 12,385.10 while the CAC 40 in Paris edged 0.1% higher to 5,647.41. Britain’s FTSE 100 declined 0.1% to 7,415.26. But Wall Street looked poised for gains, with the future contract for the S&P 500 up 0.4% to 2,976.00. The future for the Dow Jones Industrial Average added 0.4% 26,894.00.

Wall Street capped last week with a second straight weekly loss for the S&P 500 Friday as worries about a potential escalation in the trade war between the U.S. and China erased early gains.

Technology companies led the broad slide as investors weighed a report saying the Trump administration is considering ways to limit U.S. investments in China. Bloomberg cited unnamed people familiar with the administration’s internal discussions.

The possibility that the U.S. is weighing another way of applying pressure on China dampened investors’ already cautious optimism that the world’s two biggest economies might make progress in upcoming negotiations.

Investors were cheered, however, by news that two gauges of Chinese factory activity improved in September.

Surveys released Monday by an industry group and a business magazine both showed improvement, though the gains were small.

Demand for Chinese goods has been hurt by weakening domestic and global economic growth as well as U.S. tariff hikes in a fight over trade and technology. Negotiators are due to meet soon in Washington but there has been no sign of progress toward ending the dispute.

Uncertainty over the long-running trade war has fueled volatility in the market and stoked worries that the impact of tariffs and other tactics employed by the countries against each other is hampering U.S. economic and corporate profit growth.

In Asia on Monday, Tokyo’s Nikkei 225 index lost 0.6% to 21,755.84 and the Shanghai Composite dropped 0.9% to 2,905.19. India’s Sensex declined 0.5% to 38,646.08. Hong Kong’s Hang Seng added 0.5% to 26,092.27, while Sydney’s S&P ASX 200 gave up early gains, losing 0.4% to 6,688.30. The Kospi in South Korea advanced 0.6% to 2,063.05. Shares fell in Indonesia and Thailand.

Hong Kong got a boost from reassuring comments by the chief executive of its monetary authority.

Norman Chan Tak-lam, who is stepping down, said that despite the past several months of increasingly violent political protests, “the monetary system that means the exchange rate, the banking system and the financial system, have remained stable, and they have been continue to function normally and smoothly.”

Benchmark crude oil fell back, losing 30 cents to $55.61 per barrel in electronic trading on the New York Mercantile Exchange. It lost 50 cents on Friday to $55.91 a barrel.

Brent crude oil, the international standard, also declined, shedding 33 cents to $60.71 a barrel.

The dollar slipped to 107.93 Japanese yen from 107.97 yen. The euro weakened to $1.0931 from $1.0934.

Just Posted

Red Deer’s Dream Centre for addictions treatment is approved on appeal

Several conditions are attached to the approval

Derailed train in Saskatchewan released 1.5 million litres of oil: TSB

LANIGAN, Sask. — The Transportation Safety Board says Monday’s fiery Canadian Pacific… Continue reading

Alberta NDP wants new ethics review of government over election watchdog firing

EDMONTON — Alberta’s Opposition is renewing its attempt to have the ethics… Continue reading

Alberta premier says energy war room will be respectful as it takes on critics

CALGARY — Alberta’s United Conservative government has opened its war room to… Continue reading

New trial ordered for Ottawa man, ex-lover convicted in grisly murder

Ontario’s top court has ordered a new trial for an Ottawa man… Continue reading

Your community calendar

Friday The Annual Old-Fashioned Country Christmas is being held Dec. 13 at… Continue reading

Derailed train in Saskatchewan released 1.5 million litres of oil: TSB

LANIGAN, Sask. — The Transportation Safety Board says Monday’s fiery Canadian Pacific… Continue reading

Alberta NDP wants new ethics review of government over election watchdog firing

EDMONTON — Alberta’s Opposition is renewing its attempt to have the ethics… Continue reading

Leonard scores 23 points to lead Clippers to 112-92 rout of Raptors

Clippers 112 Raptors 92 TORONTO — On a night Kawhi Leonard was… Continue reading

Alberta premier says energy war room will be respectful as it takes on critics

CALGARY — Alberta’s United Conservative government has opened its war room to… Continue reading

New trial ordered for Ottawa man, ex-lover convicted in grisly murder

Ontario’s top court has ordered a new trial for an Ottawa man… Continue reading

Report suggests agriculture needs changes to save climate and farmers

Farming needs to change to help save the climate and farmers themselves,… Continue reading

Police investigate after woman, two young sons found dead in east-end Montreal home

MONTREAL — Police officers who showed up at an east-end Montreal home… Continue reading

Most Read