Asian markets fluctuated Wednesday as investors await the latest news on the US-China trade talks.[HONG KONG] Asian markets fluctuated Wednesday as investors await the latest news on the US-China trade talks, though Australian stocks rose and the local dollar fell as weak economic growth data fuelled speculation about a rate cut.
The talk is that high-level negotiations are ongoing in order to pave the way for a signing ceremony between Donald Trump and Xi Jinping later this month."A mid-March meeting ... remains the expected next step, but if trade representatives are unable to agree on the final terms of implementation and enforcement measures, we could see the trade truce rally fade," said OANDA senior market analyst Edward Moya.
Sydney was 0.5 per cent higher after data showed Australia's economy virtually ground to a halt in October-December owing to tepid household spending and a weakening housing market. On currency markets the pound struggled to recover from losses against the greenback after talks between British and EU negotiators failed to hammer out a revised Brexit deal that Prime Minister Theresa May can pass through parliament.
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