NEW YORK: Asian shares shed some of their recent gains on Wednesday as investor concerns about rising tensions between the United States and China tempered optimism about a re-opening of the world economy.
E-Mini futures for the S&P 500 edged down 0.05per cent, just short of the 3,000 chart level. The index had cleared 3,000 points in Wall Street overnight before pulling back, as some traders returned to the New York Stock Exchange floor for the first time in two months. Graphic: Asian stock markets - https://product.datastream.com/dscharting/gateway.aspx?guid=516bc8cb-b44e-4346-bce3-06590d8e396b&action=REFRESH"The S&P500 looked to be set to close above 3,000 until the late headline that the United States was considering a range of sanctions on Chinese officials and businesses should China go ahead with its legislation regarding Hong Kong," analysts at the National Australia Bank said in a note.
U.S. Treasury yields retreated from levels struck overnight, with two-year yields hovering at 0.170per cent, up from a record low of 0.105per cent struck on May 8, but still under 0.20per cent.