· European stocks were mixed Tuesday morning, as investors monitored global trade developments, fresh earnings and another potentially decisive Brexit vote.
The pan-European Euro Stoxx 600 index nudged higher during morning deals with sectors and bourses pointing in different directions.
Market focus is largely attuned to global trade developments, after prospects for a long-awaited U.S.-China trade deal were dealt another setback. It comes after Washington leveled sweeping charges against Beijing's telecom giant Huawei.
The U.S. Department of Justice filed criminal charges Monday against Meng Wanzhou, the chief financial officer of China tech giant Huawei and the daughter of its founder and president Ren Zhengfei.
The news comes shortly before Chinese Vice Premier Liu He is set to meet U.S. officials on Wednesday and Thursday. Market participants fear the jolt to Huawei could undermine the chances of the world's two largest economies reaching a comprehensive trade deal.
· Asian shares stumbled on Tuesday and the dollar hovered near two-week lows as prospects for a long-awaited Sino-U.S. trade deal were dealt another blow after the United States leveled sweeping criminal charges against China’s telecom giant Huawei.
Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan was still down 0.2 percent even after recouping some of its earlier losses.
Despite the late uptick in share prices, the mood was still gloomy after the U.S. Justice Department unsealed indictments against China’s top telecom equipment maker, Huawei Technologies Co Ltd, accusing it of bank and wire fraud to evade Iran sanctions and conspiring to steal trade secrets from T-Mobile US Inc.
The jolt threatens to undermine prospects for a trade deal between the economic giants as markets nervously await a round of trade talks with Chinese Vice Premier Liu He set to meet U.S. officials on Wednesday and Thursday.
· Japan’s Nikkei inched up on Tuesday, led by gains in defensive shares such as utilities, after the index spent much of the day in the red after warnings from U.S. industry bellwethers Caterpillar and Nvidia raised concerns over weakening Chinese demand.
The Nikkei share average ended the day up 0.08 percent at 20,664.64 after going as low as 20,406.22, its weakest since Jan. 17.
· China’s main indexes recovered losses at close on Tuesday, as Beijing’s market-friendly measures helped offset investor anxiety after Washington’s sweeping criminal charges against Chinese telecom giant Huawei.
The blue-chip CSI300 index rose 0.3 percent to end at 3,193.97, while the Shanghai Composite Index ended roughly flat at 2,594.25 points.
Investor sentiment, already shaken by pessimism over global growth, took another hit after the U.S. Justice Department unsealed indictments against China’s top telecom equipment maker Huawei, accusing it of bank and wire fraud to evade Iran sanctions and conspiring to steal trade secrets from T-Mobile US Inc
But market mood was aided by Beijing’s fresh measures to support the economy, and the market. The country’s state planner on Tuesday unveiled a flurry of measures aimed at spurring sales of items ranging from cars and appliances to information services.
Reference: Reuters, CNBC