Asian stocks flatlined on Wednesday as Sino-U.S. trade talks approached a weeken...
SINGAPORE - Asian stocks flatlined on Wednesday as Sino-U.S. trade talks approached a weekend deadline with little sign of progress, while a tightening of the UK election race knocked the pound.
In the absence of detailed trade news, focus moves to the U.S. Fed’s outlook for the economy due at 2000 GMT - along with an expectation interest rates will be held steady - and Thursday’s British election. MSCI’s broadest index of Asia-Pacific shares outside Japan barely budged. Japan’s Nikkei ticked lower after White House trade adviser Peter Navarro said a decision on the Dec. 15 tariffs would come soon, also knocking modest early gains off Australia’s S&P/ASX 200.
A Wall Street Journal report that said U.S. and Chinese officials were preparing for a delay to the Dec. 15 round of tariffs knocked bonds but did not shift stocks since it suggested no resolution to the trade conflict. White House economic adviser Larry Kudlow later said that no decision had been reached regarding the tariffs, which will automatically take effect unless they are reversed or suspended.
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