TOKYO: Asian stocks fell the most in a week on Wednesday as the United States and China's broadening dispute over trade and foreign policy showed little sign of coming to an end, weighing on global economic growth.
The United States and China are engaged in a year-long row that has slowly expanded beyond trade policy, suggesting even more damage to an already fragile global economy. Japan's Nikkei slid 0.7per cent, its biggest decline in a week. Hong Kong shares fell 0.52per cent, nearing a four-week low due to persistent worries about often violent protest against China's rule of the former British colony.
Washington is also moving ahead with discussions about restrictions on capital flows into China, Bloomberg reported. In currencies, sterling traded near a one-month low of US$1.2196 due to reports that Brexit talks between Britain and the European Union were close to breaking down. The Fed's Powell, in a speech on Tuesday, flagged openness to further rate cuts and said the time to allow the Fed's asset holdings to begin to expand again"is now upon us."
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