Traders work on the floor of the New York Stock Exchange on Friday. Agence France-Presse
Australian Prime Minister Scott Morrison on Wednesday warned that “collateral damage” from trade spats between China and the United States were hurting smaller countries and threatening the global economy.
The trade spat has turned into a war of words since President Donald Trump blacklisted Huawei last week over concerns the telecom giant's equipment could be used by Beijing for espionage.
Nearly all the respondents to the quarterly survey from the National Association for Business Economics predicted growth would slow in 2019 but were moderately less gloomy about the risks to their outlook.
With a growing economy at his back and little resistance from Republicans, President Donald Trump has been free to impose tariffs on America’s trading partners with few political repercussions. Yet his protectionist approach — particularly his heavy-handed tactics with China,
London's benchmark FTSE 100 index was up 1.0 per cent, in the eurozone, Frankfurt won 0.9 per cent and Paris climbed 0.8 per cent.
Spot gold was up 0.8% at $2,033.86 per ounce by 0655 GMT, after hitting a record high of $2,036.49. US gold futures rose 1.4% to $2,049.30.
The benchmark Nikkei 225 index slipped 0.26 per cent, or 58.81 points, to end at 22,514.85, while the broader Topix index inched down 0.04 per cent, or 0.55 points, to 1,554.71.
Brent crude was up by 31 cents, or 0.7%, at $44.74 a barrel by 0713 GMT. The contract rose 0.6% on Wednesday to its highest close since March 6. West Texas Intermediate oil was up by 26 cents, or 0.6%, at $41.96 a barrel. The contract ended Tuesday trading 1.7% higher, its highest close since late July.