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Asian stocks slip amid latest global trade developments

Asian shares dipped on Thursday as the latest escalation in the U.S.-China trade relations affected Chinese equities, while the Bank of Japan made an unexpected offer to buy bonds.

Photo: Reuters

Japan’s Nikkei dropped 1.1 percent while MSCI’s broadest index of Asia-Pacific shares slumped 1.5 percent, following a 2.2 percent drop in Chinese H-shares.

Hong Kong’s Hang Seng Index edged down 2.5 percent to 10-month weak point while an index of Chinese start-up firms slid 3.5 percent to its weakest level since January 2015.

The CSI 300 index of China’s A-shares tumbled 3.0 percent to 2,741, not far from its 1 1/2-year nadir of 2,691 touched on July 6.

On Wall Street, the S&P 500 inched down 0.10 percent overnight, but the Nasdaq Composite rose 0.46 percent to extend its rebound from Monday’s three-week weak point.

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