MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.15 percent while Japan’s Nikkei lost 0.2 percent.
Asian shares edged up on Wednesday but investors were cautious after U. S. President Donald Trump tempered optimism over progress made so far in trade talks between the world’s two largest economies.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.15 percent while Japan’s Nikkei lost 0.2 percent.
On Wall Street, the S&P 500 shed 0.31 percent overnight, losing steam after hitting a two-month high.
Trump said on Tuesday he was not pleased with recent trade talks between the United States and China, souring the improved market sentiment following weekend comments from U. S. Treasury Secretary Steven Mnuchin that trade war is «on hold».
His remarks followed Beijing’s announcement that it would cut import tariffs for automobiles and car parts.
Trump also floated a plan to fine ZTE Corp, and shake up its management as his administration considered rolling back more severe penalties.
«The market probably became overly optimistic on Monday. The reality is the talks are still continuing as they haven’t made headway on various issues, including intellectual properties,» said Norihiro Fujito, senior investment analyst at Mitsubishi UFJ Morgan Stanley Securities.
