Asian stock markets make tentative gains after Wall Street’s falls
In currency markets, a weak yuan is cause for concern, and the dollar gets a boost from the euro’s Merkel-induced decline
Tokyo — Asian shares recouped early losses and crept higher on Tuesday, as China made a fresh attempt to stabilise its stock markets. But the gains looked fragile amid fear of a sharp escalation in the US-China trade war. Major US indices fell sharply on Monday after a Bloomberg report that the US is preparing to announce tariffs on all remaining Chinese imports by early December if talks next month between presidents Donald Trump and Xi Jinping falter. Trump had raised the possibility of such a move previously, but had not indicated a time frame. MSCI’s broadest index of Asia-Pacific shares outside Japan swung in and out of negative territory in morning trade and was up 0.2% by midday. The index has lost 12% this month and is on track for its biggest October decline since 2008, during the global financial crisis. Mainland China’s benchmark Shanghai composite and blue-chip CSI 300 indices were also choppy, falling in early trade before rising 0.7% and 1% respectively by midday. Chin...
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