Tokyo — Asian stocks hovered below a nine-month high on Tuesday after disappointing bank earnings dented Wall Street, though recent signs that the global economy is likely to avoid a sharper downturn helped limit the losses. MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed by mid-morning. The index had risen to its highest level since July 2018 the previous day after strong export and banking data from China last week eased investors' concerns about the health of the world’s second-largest economy. Expectations that Chinese and US trade negotiators would strike a deal soon also lifted market confidence. The Shanghai Composite Index lost 0.1%. South Korea’s KOSPI fell 0.1%, Australian stocks added 0.5%. Japan’s Nikkei edged up 0.2%. “The equity markets are facing some headwinds after their recent large gains,” said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui DS Asset Management. “That said, market sentiment is still relatively well support...
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