Asian stocks creep higher as tariff concerns cloud over US-Mexico optimism
Sydney — Asian shares crept marginally higher on Wednesday as optimism over the US-Mexico trade deal was quickly clouded by caution ahead of a looming deadline on tariffs with China. A flat finish on Wall Street and a dearth of major economic data across the region made for thin trade and MSCI’s broadest index of Asia-Pacific shares outside Japan eked out a rise of 0.26%. E-mini futures for the S&P 500 edged up 0.16%, while Chinese blue chips dipped 0.24%. Japan’s Nikkei fared better than many with a rise of 0.6% but faced stubborn resistance around 23,000, a level where it has failed repeatedly in recent months. "For the Nikkei to break and remain above the 23,000 mark, trade conflict concerns will have to subside more convincingly," said Hiroki Takashi, chief strategist at Monex Securities. "While recent Nafta [North American Free Trade Agreement] talks have helped, the US and China will have to resolve their trade dispute to convincingly ease market concerns." Analysts at JPMorga...
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