Asian shares fight to end losing streak, pound gets lift from Brexit hope
Trade fear still hovers over the market, putting pressure on stocks, with Japan the standout thanks to a weaker yen
Sydney — Asian shares were struggling to avoid a ninth straight session of losses on Tuesday as the spectre of a China-US trade war haunted investors. The pound perched near a five-week top on hints a Brexit deal might be nearer. Japan’s Nikkei fared better on the back of a softer yen and rallied 1%. Weighing on the yen was news that Japanese chipmaker Renesas was buying US peer Integrated Device Technology for about $6.7bn in cash. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.34% to hit its lowest since July last year. Most bourses in the region nursed modest losses with Shanghai blue chips off 0.3% and South Korea down 0.4% as investors awaited the next round of trade hostilities. Having warned last week that he was ready to levy additional taxes on practically all Chinese imports, US President Donald Trump was uncharacteristically quiet on trade on Monday. China has cautioned it will respond if the US takes any new steps on trade. Canadian foreign minister C...
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