Asia stocks camp near peaks as trade talks drag on

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SYDNEY -- Asian shares paused near multi-month peaks on Thursday while bonds eked out a bounce as reports of delays in sealing a preliminary Sino-US trade deal left investors frustrated at the lack of

concrete progress.

Japan's Nikkei started in the red, having touched a 13-month top on Wednesday, while South Korean stocks were 0.3 percent down after hitting their highest since May. E-Mini futures for the S&P 500 were down a notch. Reuters reported on Wednesday a meeting between US President Donald Trump and Chinese President Xi Jinping to sign an interim trade deal could be delayed until December as discussions continue over terms and venue.

Wall Street was underwhelmed by the news and the Dow ended Wednesday all but flat, while the S&P 500 gained 0.07 percent and the Nasdaq dropped 0.29 percent. The pause in the risk rally helped bonds recoup a little of their recent losses. Yields on benchmark US 10-year notes fell back to 1.82 percent from a two-month top of 1.87 percent.

 

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