Asian shares fall as China-US trade talks reach impasse
MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.5%, nearing its two-month low marked on Thursday
Sydney — US stock futures and Asian shares fell on Monday on growing anxiety over whether the US and China will be able to salvage a trade deal, after Washington sharply hiked tariffs and Beijing vowed to retaliate. The US and China appeared at a deadlock over trade negotiations on Sunday as Washington demanded promises of concrete changes to Chinese law and Beijing said it will not swallow any “bitter fruit” that harms its interests. Investors are bracing for threatened countermeasures from China in retaliation for Washington’s tariff increase on Friday on $200bn worth of Chinese goods. The move followed accusations by US President Donald Trump that Beijing “broke the deal” by reneging on earlier commitments. E-Mini futures for the S&P 500 shed 1.0%. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.5%, nearing its two-month low marked on Thursday. Chinese shares tumbled, with the benchmark Shanghai Composite and the blue-chip CSI 300 shedding as much as 1.6% an...
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