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World shares steady as investors shrug off U.S. delisting threat
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![World shares steady as investors shrug off U.S. delisting threat]()
U.S. President Donald Trump is looking at the move as part of a broader effort to limit U.S. investment in Chinese companies, sources told Reuters on Friday, though it was not clear how any such delisiting would work. World shares steady as investors shrug off U.S. delisting threat
World shares on Monday largely shrugged off reports that Washington is considering delisting Chinese companies from U.S. stock exchanges, with market players downplaying the likelihood of such radical escalation of the U.S.-China trade war.
U.S. President Donald Trump is looking at the move as part of a broader effort to limit U.S. investment in Chinese companies, sources told Reuters on Friday, though it was not clear how any such delisiting would work.
But MSCI’s world equity index, which tracks shares in 47 countries, was little changed, down 0.1%. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS also slipped just 0.1%.
Europe's Euro STOXX 600 turned positive, ekeing out a 0.1% gain after opening lower. Markets in Frankfurt .GDAX, Paris .FCHI and London .FTSE were flat.
Wall Street futures gauges NQcv1 suggested that U.S. stocks would bounce back, indicating gains of 0.4%. The concern around the latest Sino-U.S. tensions had caused U.S. stocks to fall on Friday, with the Nasdaq .NDX losing 1%.
The news also knocked Chinese shares listed on U.S. exchanges on Friday. Alibaba Group (BABA.N) and JD.com (JD.O) both lost 5% to 6% on Friday.
China warned on Monday of instability in international markets from any “decoupling” of China and the United States following the reports, noting a U.S. Treasury response that said there were no immediate plans to block Chinese listings.
Market players said equity markets thought the threat of delisting was just a tactic before U.S.-China trade talks resume next week. Investors are accustomed to belligerence from Trump before he dials down his rhetoric, said Luca Paolini, chief strategist at Pictet Asset Management.
