Asia stocks steady as markets eye U.S.-China trade talks, dollar elevated

  • Friday 18, May 2018 in 11:55 AM
  • A visitor is seen as market prices are reflected in a glass window at the Tokyo Stock Exchange (TSE)
Sharjah 24 – Reuters: Asian stocks were steady on Friday amid caution over developments in U.S.-China trade negotiations, while the dollar perched near a five-month peak after the benchmark U.S. Treasury yield hit its highest in seven years.
Spreadbetters expected European stocks to open mixed, with Britain's FTSE dipping 0.1 percent, Germany's DAX rising 0.13 percent and France's CAC little changed.
 
MSCI's broadest index of Asia-Pacific shares outside Japan was little changed. The index was headed for a 1 percent loss this week.
 
Hong Kong's Hang Seng rose 0.17 percent and Shanghai climbed 0.3 percent as some investors bet Beijing and Washington will reach a deal in the latest round of trade talks. 
 
Japan's Nikkei rose 0.35 percent, South Korea's KOSPI was up 0.3 percent and Australian stocks dipped 0.2 percent.
 
Wall Street ended slightly lower on Thursday as investors grappled with U.S.-China trade tensions after U.S. President Donald Trump said that China "has become very spoiled on trade".
 
But helping ease some of the tension, Beijing has offered Trump a package of proposed purchases of American goods and other measures aimed at reducing the U.S. trade deficit with China by some $200 billion a year, U.S. officials familiar with the proposal said.
 
A second round of talks between senior Trump administration officials and their Chinese counterparts started on Thursday, focused on cutting China's U.S. trade surplus and improving intellectual property protections.