Asian shares try hard to maintain global recovery
US President Donald Trump appears to squash hopes of a trade truce with China, clouding what had been a bright start to the week
Sydney — Asian share markets fought to keep a global rebound alive on Tuesday after US President Donald Trump seemed to squash hopes of a trade truce with China, clouding what had been a bright start to the week. Moves were generally muted but Japan’s Nikkei managed to add 0.8% and Chinese blue-chips rose 0.4%. MSCI’s broadest index of Asia-Pacific shares outside Japan dithered either side of flat and was last up 0.2%. E-Mini futures for the S&P 500 dipped 0.1% and spread-betters pointed to a subdued start for the major European bourses. In an interview with the Wall Street Journal, Trump said he expects to move ahead with raising tariffs on $200bn in Chinese imports to 25% from 10% currently. Trump said it was “highly unlikely” he would accept China’s request to hold off on the increase, planned for January 1. The comments ran counter to recent speculation about a possible deal when Trump meets Chinese President Xi Jinping at the Group of 20 (G20) summit in Buenos Aires later this ...
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