In Asian Equity Markets the Nikkei 225 recovered from some of its earlier losses but still traded down by 0.11 percent as most sectors slipped. South Korea’s Kospi was steady as industry heavyweight Samsung Electronics gained by around 0.1 percent. Down Under, the ASX 200 shed 0.17 percent, with the telecommunications sector declining by 3.66 percent, giving up gains from a day earlier which were led by a proposed merger between TPG Telecom and Hutchison Telecommunications. Hong Kong’s Hang Seng index was down by 1.3 percent. The Shanghai composite fell by 0.58 percent while the Shenzhen composite declined by around 0.84 percent.

In Currency Markets the US dollar edged up against its peers on Friday, finding support as the latest episode of U.S.-China trade tensions dulled investor risk appetite, with weakness in emerging market currencies also helping lift the greenback. The Turkish lira weakened for its fifth day, last down 1.5 percent at 6.7495 per dollar and creeping back towards the record low of 7.24 per dollar plumbed on Aug. 13. Argentina’s peso lost nearly one-fifth of its value on Thursday and fell to a record low versus the dollar. The South African rand dipped 0.35 percent to 14.76 per dollar after retreating more than 2 percent in overnight trade.

In Commodities Markets oil prices dipped on Friday amid concerns the trade war between the United States and China could intensify, although looming U.S. sanctions against Iran’s oil exports prevented markets from falling further. International Brent crude oil futures were at $77.70 per barrel, down 7 cents from their last close. U.S. West Texas Intermediate (WTI) crude futures were down 3 cents at $70.22 a barrel. Meanwhile, China’s Shanghai crude oil futures, launched in March, will see delivery of their first contract on Friday. Crude markets in August are on track to post a more than 4 percent rise for Brent and a 2 percent increase for WTI.

In US Equity Markets indices ended their four-day winning streak on Thursday as risk reduction ahead of the long holiday weekend accelerated on growing trade anxieties. Apple Inc shares closed at a record high, rising 0.9 percent following news that it would unveil its latest iPhones on Sept. 12. Amazon.com stock rose 0.2 percent, closing above $2,000 for the first time and edging the company closer to becoming the second U.S. company after Apple to reach $1 trillion in market value. The S&P 500 lost 0.44 percent, to 2,901.13 and the Nasdaq Composite fell 0.26 percent, to 8,088.36.

In Bond Markets U.S. Treasury yields hit session lows on Thursday in a flight-to-quality sparked by a report that President Donald Trump planned to impose tariffs on $200 billion worth of Chinese goods next week, and after Argentina’s central bank raised interest rates to 60 percent, roiling emerging markets. The 30-year bond yield was down 1.5 basis points from the close on Wednesday, last at 3.005 percent. The yield on the two-year note was down 2 basis points from yesterday’s close, last at 2.657 percent. The spread between two- and 10-year note yields, the yield curve, was mostly unchanged at 20.6 basis points from its close at 20.7 on Wednesday.