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Asian stock markets fell on Wednesday and bond markets rose sharply. As trade tensions between the United States and China showed no signs of easing, investors grew increasingly worried about global economic growth and confidence declined.
The MSCI Mingsheng Asia-Pacific (excluding Japan) index fell 0.5%, after rising for three consecutive days; the Shanghai and Shenzhen 300 index of China fell 0.5%. Australia's stock market fell 0.8%, while Japan's Nikkei index fell 1.4%.
Futures on the E-Mini S&P 500 Index fell 0.4%, indicating that U.S. stocks will fall again on Wednesday.
Global risk aversion has risen in recent days as fears of a global recession have reappeared against the backdrop of disappointing macroeconomic data from major economies. In the European Union elections, the suspicious parties won. In addition, Greece's early elections and the outbreak of political unrest in Austria also made the prospects dim.
The divergence between Italy and the European Commission on budgetary issues is also a major issue facing the global market.
In Asia, the market is still focused on the Sino-US trade war. U.S. President Trump said Monday that Washington is not ready to reach an agreement with China. At the same time, he has put pressure on Japan to reduce trade imbalances with the United States.
Such fears have led to 10-year Treasury yields falling to about 10 basis points below three-month interest rates, which are often seen as leading indicators of recession. In addition, German bond yields are also declining.
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