Global stocks seek enlightenment from Trump on trade

LONDON: World shares inched higher on Tuesday as investors awaited a speech by President Donald Trump on U.S. trade policy and on news he was likely to delay a decision on European auto tariffs.

Japan's Nikkei, which dithered either side of flat most of the day, ended 0.8per cent higher. But Shanghai blue chips eased 0.2per cent after bank lending growth undershot analysts' estimates, while Australian shares were down, too. Investors were also anxious about the situation in Hong Kong after a violent escalation of protests had knocked 3per cent off the Hang Seng and nearly 2per cent off Asia-exposed banks HSBC and StanChart in recent days.

Treasury yields on 10-year notes were fractionally higher at 1.9350per cent having dropping away from last week's three-month top of 1.97per cent. European yields were also a touch higher. It had jumped to a 6-month high versus the euro and as much as 1per cent on the dollar but shed around 0.3per cent to 0.86 per euro and US$1.2823 when Brexit Party leader Nigel Farage then said on Tuesday he would not give any more ground.

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