Asia stocks stymied by trade talk frustration

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Asia stocks camp near peaks as trade talks drag on

added 0.3%, while E-Mini futures for the S&P 500 ESc1 were down a touch.

Reuters reported on Wednesday a meeting between U.S. President Donald Trump and Chinese President Xi Jinping to sign an interim trade deal could be delayed until December as discussions continue over terms and venue.“One could take the view that by not committing to meet the original deadline it gives more time for a somewhat more comprehensive agreement to be thrashed out,” said Ray Attrill, head of FX strategy at National Australia Bank.

“But markets have understandably jumped the other way, exhibiting a slight loss of confidence that anything more substantial than an agreement not to further lift tariffs, in return for some increase in US agricultural purchases, can be agreed by way of an initial deal.”

 

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