Trade friction and Fed decision are back in focus after Trump-Kim summit
Tokyo — Asian shares slipped back on Wednesday as investors looked to the Federal Reserve policy decision later in the day and any clues it might give on future rate hikes, shifting their focus away from the historic US-North Korea summit in Singapore. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.5%, erasing the slim gains made after Tuesday’s meeting between US President Donald Trump and North Korean leader Kim Jong-un. Trade friction between the US and China is also back on the radar ahead of Friday, which is Washington has said it will release a list of $50bn worth of Chinese goods that will be subject to a 25% tariff. “For Asian markets, tariffs will be the biggest concerns in the near term,” said Yukino Yamada, senior strategist at Daiwa Securities. Japan’s Nikkei eked out gains of 0.25%, following the 0.17% gains in the US S&P 500 the previous day. On Wall Street, technology shares continued to lead the rally, with the Nasdaq composite index adding 0.57...
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