Categories: world

Asian shares struggle near eight-month highs on trade jitters By Reuters

© Reuters. FILE PHOTO: Tokyo stock quotation boards outside a brokerage in Tokyo By Swati Pandey and Wayne Cole SYDNEY (Reuters) – Asian shares stepped back from eight-month highs on Thursday when investors took money off the table amid About Sino-US Trade talks and their impact on the prospects for world growth. Spreadbetters pointed to a subdued start for European shares with futures for London off 0.3 percent while those of Germany and Eurostoxx each fell 0.1 percent. E-minis for the were a shadeet. MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.4 percent after five days of gaining it to the highest since late August. Discharges were led by Australia and New Zealand while Hong Kong, Philippines and Indian markets were also saved. Chinese shares were more marked with the blue-chip index up 0.6 percent while Japan's paused near a recent one-month peak. [19659004] Analysts pointed to investor fatigue and a lack of fresh headlines on the Sino-US trade talks for Thursday's sell-off while disappointing economic data this week also hung heavy on sentiment. "It would take some significant breakthrough, such as a total removal of tariffs last year, to give the markets fresh momentum," said J.P. Morgan Asset Management Asia Pacific Chief Market Strategist Tai Hui Risk sentiment has otherwise been supported this week by signs of progress in Sino-US. trade talks. White House economic advises Larry Kudlow said on Wednesday the two sides aimed at bridge differences during talks, which could extend beyond three days this…


© Reuters. FILE PHOTO: Tokyo stock quotation boards outside a brokerage in Tokyo

By Swati Pandey and Wayne Cole

SYDNEY (Reuters) – Asian shares stepped back from eight-month highs on Thursday when investors took money off the table amid About Sino-US Trade talks and their impact on the prospects for world growth.

Spreadbetters pointed to a subdued start for European shares with futures for London off 0.3 percent while those of Germany and Eurostoxx each fell 0.1

percent. E-minis for the were a shadeet.

MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.4 percent after five days of gaining it to the highest since late August. Discharges were led by Australia and New Zealand while Hong Kong, Philippines and Indian markets were also saved.

Chinese shares were more marked with the blue-chip index up 0.6 percent while Japan’s paused near a recent one-month peak. [19659004] Analysts pointed to investor fatigue and a lack of fresh headlines on the Sino-US trade talks for Thursday’s sell-off while disappointing economic data this week also hung heavy on sentiment.

“It would take some significant breakthrough, such as a total removal of tariffs last year, to give the markets fresh momentum,” said J.P. Morgan Asset Management Asia Pacific Chief Market Strategist Tai Hui

Risk sentiment has otherwise been supported this week by signs of progress in Sino-US. trade talks. White House economic advises Larry Kudlow said on Wednesday the two sides aimed at bridge differences during talks, which could extend beyond three days this week.

Investors are nobody to see if ongoing talks lead to an earlier-than-anticipated meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping to sign and accord.

“And an important question would be whether an agreement would be sufficient to revive business sentiment and the global trade cycle,” JPMorgan’s Tai added.

“We believe in the margin it would help, but practically all investors we” ve spoken to in Asia over the past six months believe friction will still flare up from time to time between the two sides. “

Bloomberg reported on Thursday the US wanted to set a 2025 target for China to meet trade pledges.

commodities, including soybeans and energy products, and allow full foreign ownership for U.S. companies operating in China as a binding pledge. Traders were also squaring off positions ahead of U.S. Jobs data due on Friday after earlier disappointments this week. Wednesday’s figures show services sector activity hit more than 19-month low in March while private payrolls grew less than expected, hinting at softness in the world’s largest economy.

In the foreign exchange market, moves were modest after bigger swings overnight when all major currencies gained against the safe-haven yen.

On Thursday, the greenback was tad lower against a basket of currencies at 97.06 although it nudged up against the yen.

The euro was 0.1 percent higher at $ 1.1246 while sterling gained $ 1.3185 after British Prime Minister Theresa May held talks with the opposition Labor party in a bid to break the Brexit deadlock that may lead to a departure deal with the EU. 19659004] The lower house of Britain’s parliament late on Wednesday also narrowly passed which would force May to seek a delay in order to prevent the risk of leaving without a deal on April 12.

In commodity markets, nudged up to $ 1,292.96 per ounce.

eased 9 cents to $ 62.37 while rose 4 cents to $ 69.27 [O/R]

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices and not appropriate for trading purposes. Therefore Fusion Media does not bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy / sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Share
Published by
Faela