– Asian shares struggled to find their footing on Thursday as confidence was shaken after the U.S. government hit Chinese telecoms with severe sanctions, threatening to further strain Sino-U.S. trade ties.
European shares were set to open lower, with futures of the pan-European STOXX 600 off a third of a percent and those of Frankfurt’s DAX down half a percent. E-mini futures for the S&P 500 were last 0.3% lower.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.25%, hovering not far off its lowest since late January.
Japan’s Nikkei lost 0.6%, while South Korean shares lost 1.1%.
Bucking the downtrend, Chinese shares recovered on hopes of supportive government policy after opening in negative territory, with the Shanghai Composite Index last trading up 0.5%.