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By Stanley White
TOKYO (Reuters) – Asian stocks trimmed their gains Thursday and safe haven assets rose as optimism against a swift resolution of the US-China trade war it's dimmed.
The MSCI's largest share of Asia-Pacific shares out of Japan rose 0.1%. Japan slipped 0.12%.
The pan-region was down 0.09%, German down 0.02% and futures down 0.03%.
Asian stocks got off to a good start after US President Donald Trump declared that an agreement ending a nearly 15-month trade war with China "could happen sooner" than people think.
However, the positive mood has faded and Chinese stocks have fallen by 0.35%, Trump's repeated contradictory messages about trade negotiations having caused investors to dampen their enthusiasm.
Treasury and gold prices rose, a sign that some investors preferred safe assets given the ongoing risks associated with trade tensions and political uncertainty.
"Trump is genuinely interested in a trade deal with China, but he also trusts his advisers, when they tell him that the Chinese are making their contribution to the table, they are insufficient or have been radically altered at the last minute," Jeff M. Smith, Researcher at the South Asia-Heritage Foundation, told the Global Markets Discussion Forum
"He proved that he was more than willing to give up a bad deal."
US equity futures fell 0.18 percent on Thursday after a 0.62 percent rise in the S & P 500 index on Wednesday.
The United States and China are grappling with a year-long dispute over Beijing's trade practices that has slowed global growth and increased the risk of recession for some economies.
Analysts have tempered their optimism about the resolution of the trade war as Trump's public comments often send contradictory signals.
On Tuesday, Trump sharply criticized China in a speech delivered at the UN General Assembly, where he said he would not accept a "bad deal".
Trump and Japanese Prime Minister Shinzo Abe on Wednesday signed a limited trade deal that provides for a reduction in tariffs on US agricultural products, Japanese machine tools and other products, while mitigating the threat of higher tariffs. high on American cars.
Japanese equities initially benefited from the deal, but saw their trade volatility decline as investors positioned themselves squarely before equities became ex-dividends as of Friday.
(Chart: Japanese stocks: cheap and profitable – https://fingfx.thomsonreuters.com/gfx/mkt/11/9924/9834/Pasted%20Image.jpg)
Australian stocks also fell 0.53% due to skepticism over the end of the trade war.
Treasury prices have risen as investors seek safe haven assets.
The return on the benchmark fell to 1.7025%. The two-year yield fell to 1.6595%.
, another safe haven, rose 0.31% to $ 1,508.52 an ounce.
Investors largely ignore the decision of the Democrats to initiate a dismissal investigation against Trump. This decision was made following a phone call that the US president had asked the Ukrainian president to investigate a political rival.
The majority held by Trump Republicans in the Senate casts doubt on the likelihood of an indictment, which can be used to overturn any attempts to impeach the president.
The New Zealand dollar jumped 0.59% to 0.6305 USD after the head of the Reserve Bank of New Zealand said that unconventional monetary easing is unlikely; Questioning on how to limit the risks associated with commercial frictions.
declined 0.05% to 56.48 dollars a barrel, an additional sign of investor anxiety for the global economy.
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