TOKYO - Asian stocks and Wall Street futures fell on Wednesday, as growing worries that US-China trade talks are stalling and concern about intensifying unrest in Hong Kong hurt demand for risky assets.
The US dollar drifted in Asia after US President Donald Trump said a trade deal was"close" but gave no new details on when or where an agreement would be signed, disappointing investors in what was billed as a major speech on his administration's economic policies. Expectations for a"phase one" trade deal some time this month have been a key factor supporting stocks and riskier assets recently. However, the lack of material progress on an agreement has only increased doubts about whether a trade deal will take place at all.
US stock futures fell 0.27 per cent in Asia after the S&P 500 eked out a 0.16 per cent gain on Tuesday. The S&P 500 and Nasdaq hit all-time peaks during trading on Tuesday but stocks ended off session highs after Trump's speech. In recent weeks, both sides have indicated they were making progress toward an agreement that would potentially scale back some tariffs, but a lack of additional information is starting to unsettle some investors in equities and other riskier assets.
Protesters and police battled through the night at university campuses and other locations only hours after police Senior Superintendent Kwong Wing-cheung said the Chinese-ruled city had been pushed to the"brink of a total breakdown".
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