Shanghai — Most Asian shares crept higher on Wednesday, following a firm Wall Street finish, but gains were curbed by weak data in the region and intensifying fear over volatile China-US trade relations. Global markets inched higher on Tuesday, helped by a Bloomberg report that the US and China were seeking to resume trade talks to defuse a battle over import tariffs. However, later reports that the US plans tariffs of 25% on $200bn in Chinese imports injected some uncertainty back into financial markets, with the offshore yuan and the Australian dollar lower, and Chinese shares down. A source told Reuters that an announcement on Washington’s tariff plans for China could come as early as Wednesday. The seemingly contradictory signals on US-China trade were puzzling for investors, said Ryan Felsman, senior economist at CommSec in Sydney. "It’s a little bit confusing, but really I think markets are … focused more broadly on the earnings season that’s going on in the US, and Australia ...
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