Trump-Kim summit fizzles; AB InBev surges; US GDP

London (CNN Business) Trump-Kim summit fizzles: Global stock markets dipped Thursday as investors reacted to negative economic data in Asia and the abrupt end of talks between the United States and North Korea.US stock futures were pointing lower. European markets opened down and most indexes in Asiaclosed with losses.Official survey data published by China showed the country’s manufacturing sector weakened again in February, raising concerns about the slowdown in the world’s second largest economy.The collapse of nuclear talks between President Donald Trump and North Korean leader Kim Jong Un also contributed to the sour mood among investors, especially in South Korea.South Korea’s benchmark Kospi index closed down 1.8% after the summit in Hanoi ended without a joint agreement on North Korea’s nuclear program.Some investors had bet that improved relations between North Korea and the rest of the world would mean new business for regional infrastructure and mining companies. That now looks less likely.Shares in Yong Pyong Resorts, which builds ski resorts and gold courses, fell 25% in Seoul. Sungshin Cement stock dropped 20% and Dohwa Engineering dropped 26%.Mining company Ilshin Stone saw its shares decline 27%.


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