Asian shares adrift as tariff deadline looms
SINGAPORE - Asian stocks drifted on Wednesday as Sino-U.S. trade talks showed little progress ahead of a weekend deadline for the imposition of additional U.S. tariffs, and the pound wobbled as opinion polls pointed to a tight British election on Thursday.
“Every day we get a little bit of a nudge one way or the other,” said Rob Carnell, Asia-Pacific chief economist at ING in Singapore. “You just don’t know who to believe, whether these comments have any basis in reality or whether they’re a negotiating tactic.” U.S. inflation data due at 1330 GMT, expected to hold steady, may further reduce chances for rate cuts next year should it surprise on the upside.
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.
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