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GLOBAL MARKETS-Asia shares cautious, seeking Sino-U.S. clarity

Published 14/02/2019, 03:26 pm
GLOBAL MARKETS-Asia shares cautious, seeking Sino-U.S. clarity
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* Asian stock markets : https://tmsnrt.rs/2zpUAr4

* Report Trump could push out deadline on tariffs

* Top U.S. China officials to meet for trade talks

* China exports, imports easily beat forecasts

* Dollar holds firm as yen, euro and pound all ebb

By Wayne Cole

SYDNEY, Feb 14 (Reuters) - Asian stock markets were in a cautious mood on Thursday as investors hung on for any hint of progress in the latest Sino-U.S. tariff talks amid reports the White House could extend the deadline for a deal.

Bloomberg reported President Donald Trump was considering pushing back the deadline by 60 days, citing people familiar with the matter. on Wednesday, had said the talks were "going along very well" as they try to resolve the dispute ahead of the initial March 1 deadline. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer in China for high level talks, investors had been daring to hope for good news. there have been disappointment before, the reaction in share markets was guarded. Shanghai blue chips .CSI300 were down 0.2 percent, having jumped 2 percent on Wednesday to levels last seen in late September.

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS eased 0.2 percent, though that was off a peak last seen in early October.

Japan's Nikkei .N225 edged up 0.1 percent to its highest for the year as a weakening yen boosted export stocks. E-Mini futures for the S&P 500 ESc1 added 0.15 percent.

The Australian dollar, often used as a liquid proxy for China risks, gained 0.4 percent to $0.7114 AUD=D3 .

The Aussie had already got a small lift when Chinese trade data handily beat expectations in a welcome relief for the global economy.

Beijing reported exports rose 9.1 percent in January from a year earlier, confounding forecasts of a fall, while imports dipped by a surprisingly slight 1.5 percent. was some hope another U.S. government shutdown would be averted as Trump edged toward backing a deal in Congress on funding for a border barrier. BEST OF BAD BUNCH

In currency markets, the improvement in risk appetite undermined the safe haven yen and propelled the dollar to its best levels of the year so far at 111.05 JPY= .

The euro took a hit of its own from dire data on European industrial output which pushed long-term market inflation expectations to new lows, while putting downward pressure on bond yields in the bloc. single currency was last at $1.1280 EUR= and still above the floor of a $1.1213/1.1570 trading range that has held since mid-October.

Sterling was also on edge at $1.1860 GBP= ahead of another parliamentary vote on British Prime Minister Theresa May's Brexit plan. of which left the dollar near its highest since mid-December on a basket of currencies at 97.059 .DXY .

In commodity markets, spot gold edged up 0.18 percent to $1,308.56 per ounce XAU= .

Oil prices found support as top exporter Saudi Arabia said it would cut crude exports and deliver an even deeper cut to its production. O/R

U.S. crude CLc1 was last up 24 cents at $54.14 a barrel, while Brent crude LCOc1 futures rose 32 cents to $63.93.

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Asia stock markets

https://tmsnrt.rs/2zpUAr4 Asia-Pacific valuations

https://tmsnrt.rs/2Dr2BQA

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Editing by Shri Navaratnam and Richard Borsuk)

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