Sydney — Asian shares consolidated recent gains and currencies kept to tight ranges on Wednesday as investors waited to see what policies might emerge from China’s Communist Party conference. The twice-a-decade congress is expected to cement the power of President Xi Jinping, who kicked off the week-long event with a wide-ranging speech in which he said the market would be allowed to play a decisive role in allocating resources. Investors are keen for any direction on economic and financial market reform over the next five years, although history suggests these events can be light on detail. On Tuesday, the US again declined to name China as a currency manipulator although it remained critical of the Chinese government’s economic policies ahead of a planned visit to Beijing by President Donald Trump. The blue-chip CSI300 index was up 0.3%, while Shanghai stocks added 0.1%. Recent economic data from the Asian giant has been generally upbeat, fuelling a tide of optimism about global g...
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