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Asian Markets Cling on Multi-months High Following Trade Deal Uncertainty

Asian stocks managed to cling near multi-month peaks Thursday while bonds eked out a bounce as stories of delays in inking a preliminary Sino-U.S. trade agreement left traders frustrated at the lack of concrete advancement.

MSCI’s broadest index of Asia-Pacific shares outside Japan relaxed a slight 0.1%, off a six-month high struck earlier in the week.

Japan’s Nikkei dithered either aspect of flat in quiet trade, having reached a 13-month top on Wednesday. South Korean shares had been up 0.1% after achieving their highest since May.

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

Another report came Wednesday, which said a meeting between U.S. President Donald Trump and Chinese President Xi Jinping to agree upon an interim trade settlement could be delayed until December as discussions proceed over terms and venue.

Among numerous suggestions was to sign an agreement after a scheduled NATO meeting in December.

The report underwhelmed wall Street, and the Dow ended Wednesday all but flat, while the S&P 500 realized 0.07%, and the Nasdaq sank 0.29%.

HP surged more than 6% after a report read that U.S. printer maker Xerox Holdings has made an approximately $33 billion cash-and-stock supply for the computer organization.

The pause in the risk rally helped bonds recover a little of their recent losses. Yields on benchmark U.S. 10-year notes dropped back to 1.81% from a two-month top of 1.87%.

That, in turn, controlled the dollar, which eased to 108.77 yen from a weekly high of 109.24. The greenback was steady on a bucket of currencies at 97.965.

The euro was struggling to sustain any jump at $1.1064, perilously close to $1.1060.

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Angela Maynard

Angela is a Market expert with vast experience in commodities and markets. She also has expertise in marketing. She has worked with several entrepreneurs, financial services firms, and media houses. Angela joined the group in 2018. Now, she is leading the Market column.

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