Stocks in cautious ranges ahead of China data, trade talk hopes fade

TOKYO: Asian stocks clung to tight ranges on Thursday as investors awaited key Chinese data for clues on how much the 16-month trade war between Beijing and Washington has hit growth in the world's second-largest economy.

Investors are trying to determine whether the stimulus measures the Chinese government has taken so far are helping prevent further economic slowdown. However, complete confidence in the global outlook is unlikely to return until there is a lasting solution to the U.S.-China trade war. U.S. stocks have climbed to record levels recently, fuelled by interest rate cuts, positive earnings, and signs the economy is bottoming out, but doubts about progress in U.S.-China trade negotiations remain a huge risk to financial markets and global growth.

In currency markets, the yen was quoted at 108.77 per dollar, close to a one-week high. The Swiss franc traded at 0.9898 versus the greenback, near the highest in more than a week.

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