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Asian shares struggle near eight months highs on trade jitters by Reuters



© Reuters. FILE PHOTO: Men look at listing cards outside a broker in Tokyo

By Swati Pandey and Wayne Cole

SYDNEY (Reuters) – Asian shares resigned from eight months highs Thursday, as investors took money out of the table in the midst of fresh worries about the ongoing talks between China and the US and their impact on the prospects for world growth.

Spreadbetter pointed to a subdued start for European equities with futures for London's growth of 0.3 percent, while German and Eurostoxx each dropped 0.1

percent. E-minis for was a shadow weaker.

MSCI's widest index for Asia-Pacific stocks outside of Japan fell 0.4 percent after five straight days of winnings it peaked since late August. Losses were led by Australia and New Zealand, while Hong Kong, the Philippines and Indian markets were also in red.

Chinese stocks were firmer with the blue chip index up 0.6 percent, while Japan paused near a recent peak at the top [19659004] Analysts pointed out the investor's fatigue and lack of new headlines on the trade talks between China and the United States for Thursday's sales, while disappointing US economic data this week also hung heavily on emotions.

"It would take a significant breakthrough, such as a complete removal of tariffs implemented last year to revitalize the markets," said JP Morgan Asset Management Asia Pacific Chief Market Strategist Tai Hui.

The risk statement has otherwise been supported this week by signs of progress in trade between China and the US talks. White House economic advisor Larry Kudlow said on Wednesday that the two sides were aiming to bridge the differences during the negotiations, which could last longer than three days this week.

Investors are eager to see if ongoing talks lead to an earlier than anticipated US-President Donald Trump meeting and his Chinese counterpart Xi Jinping to sign an agreement.

"An important question would also be whether an agreement would be sufficient to revive business feelings and the global trading cycle," added JPMorgan's Tai.

"We believe in the margin it would help, but almost all investors we" have talked to in Asia over the last six months, believe friction still flares up from time to time between the two sides. "

Bloomberg reported Thursday that the United States wanted to set a 2025 target for China to meet trade commitments. [19659004] The plan will see China pledge to buy more US commodities, including soybeans and energy products, and allow full foreign ownership of US companies operating in China as a binding pledge.

The traders also squared positions prior to US job data on Friday after previous disappointments this week, and Wednesday's figures show that the service sector's activity hit more than 19 months in March, while private wages grew less than expected, suggesting softness in the world's largest economy.

In the foreign exchange market, movements after modest overnight fluctuations were modest when All major currencies were won against the safe haven yen.

the greenback a bit lower than a basket of currencies at 97.06, even though it was up against The yen.

The euro was 0.1 percent higher at $ 1.1466, while sterling got $ 1.3185 after British Prime Minister Theresa May held talks with the opposition Labor Party in an attempt to break Brexit's kills that could lead to a softer departure agreement with the EU. 19659004] The lower parliament of Britain's parliament late on Wednesday also adopted narrow legislation that could force May to seek a delay for Brexit to prevent the risk of going without agreement on April 12.

In the commodity markets $ 1,292.96 per ounce.

eased 9 cents to $ 62.37, while rising 4 cents to $ 69.27. [O/R]

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