Asian shares inch away from four-month lows
Equities breathe a sigh of relief after the US temporarily eases trade restrictions on China’s Huawei, but investors remain on edge
Tokyo — Asian shares won some respite on Tuesday after Washington temporarily eased trade restrictions imposed last week on China’s Huawei, although fears of a further escalation in tensions kept investors on edge. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.35% but stayed not far from a four-month low touched on Friday. It has fallen almost 8% from a nine-month peak hit just over a month ago. Japan’s Nikkei fell 0.4%. The blue-chip CSI300 index rose 1.0%, a day after it fell to a three-month intraday low as Washington allowed Huawei Technologies to purchase American-made goods in order to maintain existing networks and provide software updates to existing Huawei handsets until Aug. 19. Still, an increasingly acrimonious atmosphere between the world’s two biggest economies has led investors to abandon any hopes of an early resolution, a sea change from just a few weeks ago when a deal was considered to be within reach. “With the news around the US and Huawei...
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