· European stocks open below the flatline Thursday, as investors keep abreast of geopolitical news taking place across the globe.
The pan-European Stoxx 600 was off by 0.4 percent with almost every sector in the red.
Markets remain cautious on Thursday, as investors around the world watch closely for any further developments concerning the tit-for-tat trade dispute between China and the U.S. On Wednesday, U.S. Trade Representative Robert Lighthizer stated in front of the House Ways and Means committee that he foresaw long-term hurdles ahead.
Meanwhile, a summit between Trump and North Korean leader Kim Jong Un in Vietnam was cut short after the latter asked for an end to sanctions. The two nations have worked towards stronger relations and the denuclearization of the Korean Peninsula.
· Asian stocks fell on Thursday as investors dialed back some of their recent optimism about a Sino-China trade deal while news that the U.S.-North Korean summit in Hanoi was ending early rattled confidence late in the trading day.
The White House said on Thursday U.S. President Donald Trump and North Korean leader Kim Jong Un did not reach an agreement at the end of two days of meetings but had constructive discussions on denuclearization.
MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.45 percent, extending earlier declines.
“Prior hopes were not that high towards the summit producing concrete agreements, but most expected the two leaders to end the meeting with a handshake. So the markets are reacting to the headlines,” said Shusuke Yamada, chief Japan FX strategist at Bank Of America Merrill Lynch.
· Japan’s Nikkei fell on Thursday as hopes for progress in U.S.-China trade negotiations receded and as data showed the biggest decline in Japanese factory output in a year, dragging down cyclical stocks.
Japanese stocks widened their losses in late trade, with traders noting investors were closing their positions as they awaited more details from the U.S.-North Korea summit in Vietnam.
U.S. President Donald Trump and North Korean leader Kim Jong Un cut short their summit schedule during a second day of talks in Vietnam on Thursday.
The Nikkei share average ended 0.8 percent lower at 21,385.16 points.
Sentiment remained negative throughout the day, as U.S. Trade Representative Robert Lighthizer told a congressional hearing the United States and China still had hard work ahead to settle their trade dispute in his first public comments since Trump announced a delay to a planned hike in U.S. import tariffs on Sunday.
· Chinese shares ended lower on Thursday on concerns about Sino-U.S. trade and slowing growth, but the country’s main stock indexes posted their biggest monthly gains in nearly four years on investor hopes for government stimulus and policy support.
At the close, the Shanghai Composite index was down 0.44 percent at 2,940.95. The index ended February with a 13.8 percent rise, its biggest monthly gain since April 2015.
Reference: Reuters, CNBC
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