Tokyo — Asian shares extended their recovery into a fourth day on Wednesday, buoyed by strong US earnings and expectation that Beijing will ramp up fiscal stimulus to cushion the impact of its worsening trade dispute with Washington. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.3%, led by Taiwan, while Japan’s Nikkei ticked up 0.4%. Bucking the trend were Chinese shares, which slipped about 0.4% after the US said it would begin collecting 25% tariffs on an additional $16bn worth of Chinese goods this month, the second leg of its first China-targeted tariffs on $50bn goods. News that the fresh duties will go into effect from August 23 overshadowed strong Chinese trade data, which showed exports rose more than expected in July despite US tariffs imposed early last month. Imports also rose more than forecast, suggesting its domestic demand remains resilient despite fear about the trade war. Losses in Chinese markets were tempered by signs Beijing is unveiling fur...
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