TOKYO - Asian stocks clung to tight ranges on Wednesday, as investors awaited fresh directional cues from U.S.-China trade negotiations and a weaker Wall Street finish capped broader gains, while robust U.S. economic data supported the dollar.
Wall Street dipped on Tuesday as a drop in General Electric shares countered positive retailer earnings and investors eyed a key resistance level for the benchmark S&P 500 after the market’s run to a five-month peak on Monday. [.N] “Steady U.S. growth is a stronger theme than slowing Chinese growth, especially with Sino-U.S. trade talks seemingly headed for some kind of a conclusion.”
In the currency market, the dollar held gains after rising against its peers on Tuesday’s upbeat ISM non-manufacturing sector report.
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