Asian shares slightly stronger, but still vulnerable

Sydney — Asian shares staggered up from five-week lows on Tuesday but remained fragile after US President Donald Trump’s latest threat to raise tariffs on Chinese goods shocked financial markets and fuelled worries that trade talks may be derailed.

Japan's Nikkei shed 0.8%, taking a delayed hit as the country’s financial markets opened after a 10-day break to mark the ascension of a new emperor. Yasuo Sakuma, chief investment officer at Libra Investments in Tokyo, said he believed stocks have entered a new downtrend, as investors had growing doubts over whether the US and China would cut a deal on trade any time soon.

There was little movement in the currency market, with the euro trading virtually flat at $1.1204, having held in a tight range for the past four sessions, while the dollar was steady at 110.70 yen.

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