By Avantika Chilkoti 

Global stocks dipped Thursday on fresh concerns over U.S.-China relations after President Trump signed a bill supporting Hong Kong protesters.

The pan-continental Stoxx Europe 600 declined 0.2%, and the Shanghai Composite Index ended the day down almost 0.5%. While U.S. markets are closed for the Thanksgiving holiday, futures linked to the Dow Jones Industrial Average dropped 0.3%.

Mr. Trump's support for the bill, which details U.S. policy toward Hong Kong and orders an assessment of political developments there, may raise fresh hurdles in the trade negotiations between the world's two largest economies. China's Foreign Ministry has said Beijing is opposed to the bill's signing and threatened countermeasures if the U.S. doesn't change course. It didn't specify what those might be.

While an initial trade deal may not off the table, it might be delayed further by the rising tensions between the U.S. and China in recent days, according to analysts at Commerzbank.

Investors' concerns about the impact on the continuing trade war on the global economy weighed on oil prices, with Brent crude futures dipping 0.4% to $62.73 a barrel.

Over in the U.K., the FTSE 100 equity benchmark declined 0.5% after a closely watched poll suggested that Prime Minister Boris Johnson's Conservative Party are poised to secure a majority in next month's general election. The British pound rose to a six-month high against the euro overnight.

Among the biggest gainers in Europe was Virgin Money. The financial-services company gained over 24% in London after reporting some financial metrics including net interest margin and capital measures that were better than analysts had expected.

Meanwhile, Rémy Cointreau slipped 2.3% in Paris after the French beverage company's fresh forecasts for the year disappointed investors.

Write to Avantika Chilkoti at Avantika.Chilkoti@wsj.com

 

(END) Dow Jones Newswires

November 28, 2019 05:10 ET (10:10 GMT)

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