Asian markets crept up Tuesday but dealers remain on edge following contrasting economic data out of Europe and the US as investors await developments in the China-US trade standoff.
After last week’s dovish shift by global central banks, dealers are in wait-and-see mode, with the key focus now on whether Washington and Beijing can find a solution to their long-running tariffs spat.
Optimism over the issue took a jolt at the weekend when Donald Trump said he did not want to make a piecemeal deal — an option that had been floated — and instead was determined to sign a complete agreement.
He also said he saw no need to strike it before the November 2020 election.
Top-level negotiations are due to start in Washington next month.
Observers said there was some relief that a Chinese delegation’s visit to farms in rural US was cancelled at the request of Treasury officials. News of the cancellation last week hit New York stocks as dealers feared another breakdown in talks.—AFP