Asian shares inch higher on chance of China-US truce
The US Federal Reserve’s new-found concern about the global economy undermines the dollar
Sydney — Asian shares crept cautiously higher on Monday amid conflicting signals on the chance of a truce in the China-US trade dispute, while the Federal Reserve’s new-found concern on the global economy undermined the dollar. MSCI’s broadest index of Asia-Pacific shares outside Japan tacked on 0.1% and Chinese blue chips 0.5%. Japan’s Nikkei gained 0.4%, but e-mini futures for the S&P 500 slipped 0.3%. Wall Street had firmed on Friday after US President Donald Trump said that he may not impose more tariffs on Chinese goods after Beijing sent a list of measures it was willing to take to resolve trade tensions. The comment stoked speculation of a deal when Trump meets Chinese President Xi Jinping on the sidelines of a Group of 20 (G20) summit in Argentina in November. However, China-US tensions were clearly on display at an Asia-Pacific Economic Co-operation (Apec) meeting in Papua New Guinea at the weekend, where leaders failed to agree on a communiqué for the first time ever. US V...
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