Asian equities retreat as US-China reconciliation appears to stutter

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Asian stocks are painting a sea of red, as investors grow skeptical that the US and China can exhibit enough will to sign a limited trade deal by next month. Most Asian currencies are now also weaker against the US Dollar, while safe havens such as Gold and the Japanese Yen are advancing.

Given that the US Senate has just passed legislation in support of the Hong Kong protests, such a move threatens to drive a wedge into ongoing US-China negotiations while potentially raising the barrier to a trade deal. Considering that the US and China are struggling even to agree to “phase one”,… Read More:

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