Asian stocks inch up, but Chinese economic worries pull Shanghai down
Shanghai — Asian stocks eked out gains on Wednesday, with sentiment boosted by Wall Street’s rise and a record intraday high for the S&P 500 index on Tuesday, but fragile Chinese markets retreated after two days in the black.Shares in much of the region were also aided by hope that the trade talks between the US and China expected this week will ease trade tension.But Chinese investors sold shares across the board, sending both the Shanghai composite index and the blue-chip CSI300 index down 0.5%, as economic concern returned after the central bank said on Tuesday it would not resort to strong stimulus to support growth.US President Donald Trump told Reuters on Monday that he does not expect much progress from the trade talks with China.MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.3%, while Japan’s Nikkei stock index advanced 0.7%. Seoul’s Kospi rose 0.4%, buoyed by tech firms as data showed robust chip exports, and shares in Taiwan were 0.2% higher.But S&P fu...
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