Shanghai — Fresh US-China tariff war volleys put pressure on Asian shares on Tuesday, but comments from US President Donald Trump that he expects trade negotiations to be successful aided sentiment. Chinese markets that were pummelled in early trade trimmed losses amid signs of state support. China on Monday announced it would impose higher tariffs on $60bn of US goods following Washington’s decision last week to hike its own levies on $200bn in Chinese imports. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.9% as volatile Chinese markets paused for their midday break. The index had earlier fallen as much as 1.25% to its lowest since January 30. Providing some support for Asian markets were comments from Trump late on Monday that trade talks with China are “going to be very successful”. That helped lift US stock futures more than 0.5%, though sentiment remained fragile. Prakash Sakpal, Asia economist at ING in Singapore, said Monday’s volatility showed how a...
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