TOKYO: Asian shares and U.S. stock futures darted in and out of losses on Tuesday, as the holiday lull offset optimism that a U.S.-China trade deal will boost exports and corporate earnings.Advertisement
A de-escalation of a trade conflict between the world's two-largest economies is a positive for companies that feed global supply chains, but some investors want to wait until next year to see how long the current thaw in Sino-U.S. relations lasts. Trading is expected to be subdued as many financial markets will start closing from Tuesday for the Christmas holidays.
Equity investors got a rare double dose of positive news earlier this month when Washington and Beijing agreed a preliminary deal to avoid additional U.S. tariffs on Chinese goods and a British general election gave the ruling Conservative Party a free hand to enact its Brexit agenda. Sterling has given up all the gains it made immediately after the British general election on Dec. 12.China's government is considering broad-based and"targeted" cuts in banks' reserve requirement ratio to lower financing costs for small firms, the country's premier said on Monday, showing policymakers remain under pressure to counter an economic slowdown.
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