By Shinichi Saoshiro
TOKYO (Reuters) - Stock markets sagged broadly on Thursday while government bonds attracted safe-haven demand amid mounting investor concerns that growing trade tensions would hurt the global economy.
The Asian markets took their cues from Wall Street shares, which fell for the third straight session overnight after U.S. President Donald Trump sought to impose fresh tariffs on China, intensifying fears of a trade war.
Equity market losses were widespread, with the pan-European FTSEurofirst 300 index <.FTEU3> shedding 0.14 percent overnight and MSCI's global stock index <.MIWD00000PUS> losing 0.46 percent.
Australian stocks <.AXJO> fell 0.35 percent, South Korea's KOSPI <.KS11> lost 0.15 percent and Japan's Nikkei <.N225> was down 0.15 percent.
"The equity market has been holding up relatively well, but it will have to decline some more if U.S. shares deepen their losses," said Yutaka Miura, senior technical analyst at Mizuho Securities in Tokyo.
"Bargain hunters buy steadily at price dips, but most participants are wary of chasing highs amid lingering uncertainty about trade and politics."
The benchmark 10-year Treasury yield
The spectre of a trade war also boosted demand for European debt, with the German 10-year bund yield
In the currency market, the dollar was steady after managing to drift higher the previous day following three sessions of losses.
The dollar index against a basket of six major currencies <.DXY> was flat at 89.700.
The euro was little changed at $1.2376
U.S. crude futures
Crude was lifted the previous day after data showed a bigger-than-expected fall in U.S. refined product inventories with gasoline demand rising to a seven-month high.
(Reporting by Shinichi Saoshiro; Editing by Sam Holmes)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)