Asian stocks fail to catch Wall Street's Fed cheer as trade angst dominates

TOKYO: Asian stocks struggled on Friday to track Wall Street's exuberance about a possible U.S. rate cut next month as anxiety over Sino-U.S. trade negotiations clouded the investor mood in the region.

"That said, the FOMC alone won't be able to sustain Asian equities indefinitely until some kind of solution can be worked out for the U.S.-China trade war at the G20, since the region is particularly vulnerable to the conflict." The greenback has fallen 1.1per cent versus the yen this week and traded near a six-month low of 107.21 yen.

The benchmark 10-year U.S. Treasury yield surged in price and its yield fell below 2per cent for the first time in 2-1/2 years on Thursday. It last stood at 2.016per cent.

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