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· Global stocks took a beating on Thursday as a fresh row between Washington and Beijing over U.S. legislation on Hong Kong threatened to undermine their trade talks and delay a “phase one” deal that investors had initially hoped to be signed by now.

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS fell 1.2% to a three-week low, with Hong Kong's Hang Seng .HSI tumbling 1.6% while Japan's Nikkei .N225 dropped 0.4%. Chinese mainland shares dropped 0.3% .SSEC.

· Japanese stocks tumbled on Thursday on concerns that a U.S.-China “phase one” trade agreement will be delayed, but losses were pared after China’s top negotiator reportedly expressed optimism that a deal can still be reached.

The Nikkei share average fell 0.5% to 23,038.58 points, its lowest close since Nov. 1, after a choppy session.

· China stocks extended losses for a second straight session on Thursday, as a fresh dispute between Washington and Beijing over Hong Kong stoked concerns that an interim trade deal could be delayed.

The blue-chip CSI300 index fell 0.5%, to 3,889.60, while the Shanghai Composite index shed 0.3% to 2,903.64.

Completion of a “phase one” U.S.-China trade deal could be pushed into next year, trade experts and people close to the White House said, as Beijing presses for more extensive tariff rollbacks, and the Trump administration counters with heightened demands of its own.

· European stocks traded lower Thursday as relations between China and the U.S. come under strain over Hong Kong, amid concerns that “phase one” of a trade deal between the two powerhouses may be pushed into2020.

The pan-European Stoxx 600 dropped 0.6% in early trade, with basic resources falling 1.3% to lead losses as all sectors and major bourses entered the red.