Global stocks mixed as trade war worries worsen

BEIJING (AP) — Global stocks gained Monday amid investor jitters the U.S.-China trade war might be worsening.

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Market benchmarks in Frankfurt and Paris rose in early trading while Shanghai and Hong Kong closed lower. London was unchanged and Tokyo was closed for a holiday.

Investors were encouraged by hopes global central banks will keep interest rates low to shore up economic growth. But they worry President Donald Trump's impending Sept. 1 tariff hike on more Chinese imports will scuttle talks aimed at ending their trade war.

Wall Street's benchmark Standard & Poor's 500 index dropped as much as 1.3% Friday after Trump said it would be "fine" if trade talks next month don't happen."

Safe havens are "still in demand on trade war anxiety," said Alfonso Esparza of Oanda in a report. "Headwinds remain strong as a deal in the short term between the U.S. and China is a long shot."

Germany's DAX advanced 0.4% to 11,738.68 and France's CAC 40 added 0.4% to 5,347.64. London's FTSE was unchanged at 7,250.68.

On Wall Street, futures for the S&P 500 and Dow Jones Industrial Average were off 0.2%.

In Asia, the Shanghai Composite Index declined 0.2% to 2,814.99 and Hong Kong's Hang Seng shed 0.4% to 25,824.72. Seoul's Kospi gained 0.2% to 1,942.99 and Sydney's S&P-ASX 200 was 6 points higher at 6,590.30.

Taiwan declined while New Zealand was unchanged. Markets in India, Singapore and Thailand were closed for holidays.

On Friday, the S&P 500 ended down 0.7% while the Dow fell 0.3%. The Nasdaq lost 1%.

ENERGY: Benchmark U.S. crude lost 59 cents per barrel to $53.89 in electronic trading on the New York Mercantile Exchange. The contract rose $1.94 on Friday to close at $54.40. Brent crude, used to price international oils, shed 34 cents to $58.19 per barrel in London. It gained $1.15 the previous session to $58.53.

CURRENCY: The dollar edged down to 105.47 yen from Friday's 105.66 yen. The euro gained to $1.1208 from $1.1201.