Asian stocks clung to tight ranges on Wednesday, as investors awaited fresh directional cues from U.S.-China trade negotiations and a weaker Wall ...
TOKYO: Asian stocks clung to tight ranges on Wednesday, as investors awaited fresh directional cues from U.S.-China trade negotiations and a weaker Wall Street finish capped broader gains, while robust U.S. economic data supported the dollar.
A report from the Institute for Supply Management showed U.S. non-manufacturing sector companies in February placing the most new orders since August 2005, an indicator of robust health. "Steady U.S. growth is a stronger theme than slowing Chinese growth, especially with Sino-U.S. trade talks seemingly headed for some kind of a conclusion."Beijing revealed at the annual meeting of its parliament on Tuesday that it is targeting economic growth of 6.0 to 6.5 percent in 2019, less than the 6.6 percent gross domestic product growth reported last year.
In the currency market, the dollar held gains after rising against its peers on Tuesday's upbeat ISM non-manufacturing sector report.
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