Asian shares fragile as growth worries sap confidence

0
83

SYDNEY
Asian shares seesawed in cautious trading on Thursday with China extending losses as investors worries about slowing global growth in the face of rising U.S. interest rates and trade tensions.
U.S. stock futures were slightly higher after briefly turning down underscoring fragile investor sentiment following a rout in October and steep sell-offs in recent sessions. Spreadbetters pointed to a tentative start for Europe.
MSCI’s broadest index of Asia-Pacific shares outside Japan were last up 0.2 percent, recouping earlier losses. The index has managed to hold up so far in November after three straight monthly declines, but is on track for its worst annual performance since 2011.
Japan’s Nikkei was off morning highs but up 0.7 percent. Chinese shares were in the red after opening higher, with the blue-chip index falling 0.4 percent.
“This was a half-hearted rally to start with,” said Shane Oliver, Sydney-based head of investment strategy at AMP.
“Investors are still wary about whether they’ll see further lows given none of the issues that drove the recent correction have dissipated.”