Asian shares fall as doubts over US-China truce emerge
Equities lose ground as a relief rally peters out amid rising doubts over whether China and the US will be able to resolve trade differences
Shanghai — Asian shares fell on Tuesday as a relief rally petered out amid rising doubts over whether China and the US will be able to resolve trade differences. An inverted US yield curve also raised concerns about a possible recession. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.3% as Chinese equity markets struggled to move out of negative territory. Chinese blue-chip shares in Shenzhen and Shanghai were slightly weaker, and the benchmark Shanghai Composite index edged barely higher. Shares in Hong Kong lost 0.3%. Australia shares gave up 0.8% and Seoul’s Kospi fell 0.6%, while Japan's Nikkei stock index was 1.3% lower. The temporary freeze on further hostilities in the trade war between the US and China had sparked a global rally in equity markets on Monday, pushing MSCI’s all-country world index up 1.3%. But even before the trading day ended, major US indices pulled back from intraday highs as investors pondered unresolved issues between the two countries....
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