Asian shares slip from eight-month peak as US opens new front in trade war

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Asian shares slip from eight-month peak as US opens new front in trade war
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TOKYO: Asian shares stepped back from eight-month highs on Wednesday as the IMF lowered its global growth outlook and as tensions over tariffs ...

TOKYO: Asian shares stepped back from eight-month highs on Wednesday as the IMF lowered its global growth outlook and as tensions over tariffs between the United States and Europe escalated.

Although earnings forecasts have been pegged back recently, share markets have been propped up by hopes of a trade deal between Washington and Beijing and optimism that the Chinese economy may be bottoming out on policy support. Global debt yields held mostly steady, with the 10-year U.S. Treasuries yield at 2.501 percent, off its 15-month low of 2.340 percent touched late last month.

Major currencies were little moved with an immediate focus on the European leaders' summit and the European Central Bank's policy meeting.

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