Asian shares rattled after comments dampen trade talk optimism
Equities struggle to gain traction after US trade representative Robert Lighthizer says it is too early to predict an outcome in US-China talks
Tokyo — Asian stocks struggled for traction on Thursday after cautious comments from US trade representative Robert Lighthizer deflated some optimism that China and the US were closing in on a trade deal. The dollar held onto its gains from Wednesday, supported by higher bond yields. MSCI’s broadest index of Asia-Pacific shares outside Japan slipped in and out of the red, while South Korea’s Kopsi shed 0.25% and Japan’s Nikkei lost 0.35%. The Shanghai Composite index dipped 0.3% as more weak data weighed on sentiment. Figures released on Thursday showed factory activity contracted for the third consecutive month in February as export orders fell to the lowest level since the global crisis. Lighthizer said on Wednesday it was too early to predict an outcome in talks between Washington and Beijing. US issues with China are “too serious” to be resolved with promises from Beijing to purchase more US goods and any deal between the two countries must include a way to ensure commitments ar...
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