TOKYO - Asian stocks hovered below a nine-month peak on Tuesday after disappointing bank earnings dented Wall Street, though recent signs the global economy is likely to avoid a sharper downturn helped limit the losses.
The U.S.-China trade dispute, signs of slowing global corporate earnings and business investment have all put pressure on riskier assets in the past year, so investors have been quick to lap-up positive news. Elsewhere in commodities, the recent rally in crude oil prices slowed on the prospect of Russia and OPEC boosting production to fight for market share with the United States.
Source: News Formal (newsformal.com)
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