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Asia stocks bounce from three-and-a-half month lows as trade fears soften


Added 05-15-19 12:03:01am EST - “Asian stocks bounced from a 3-1/2-month low on Wednesday as a slight softening i...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Asia stocks bounce from three-and-a-half month lows as trade fears...”. Below is an excerpt from the article.

TOKYO (Reuters) - Asian stocks bounced from a 3-1/2-month low on Wednesday as a slight softening in rhetoric from U.S. President Donald Trump helped ease worries about the U.S.-China tariff war and on expectations Beijing could release more economic stimulus.

Shares in Asia were led by strong gains in Chinese equities, which rebounded after two days of losses.

“Chinese stocks are mounting a rebound as they had been oversold in recent sessions. Sentiment is also better as President Trump seems to be desiring a compromise,” said Kota Hirayama, senior emerging markets economist at SMBC Nikko Securities in Tokyo.

MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.5%. The index had fallen to its lowest level since the end of January the previous day as the Sino-U.S. trade conflict intensified. Beijing on Monday imposed a tariff hike on U.S. goods following Washington’s decision last week to hike its levies on Chinese imports.

However, Trump on Tuesday said he had a “very good” dialogue with China and insisted talks between the world’s two largest economies had not collapsed. Wall Street shares were able to bounce overnight in wake of Trump’s comments. [.N]

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