Markets slip back overnight on trade worries

Asian and US markets closed lower overnight as the latest economic data emerging from leading economies around the world continued to worry investors.

A disappointing German business confidence reading, showing a decline for the fifth straight month, set the tone for yesterday's trading. Equity markets subsequently fell overnight, with worries over a decline in trade with Europe weighing on exporters in particular. As a result, Asian shares closed lower, with the Hang Seng off 0.1% at 20,669 points, and the Shanghai Shenzhen down 0.2% at 2,211.6. US markets were also down, with the Dow off 0.2% at 3,558.9, and the S&P 500 also dipping 0.2% to close at 1,457. It followed a down day in Europe, where leading markets also finished...