Asian shares falter after lacklustre Chinese data as the pound eases after its best one-day percentage gain since April 2017
London — European shares rallied to five-month highs on Thursday after Britain’s parliament removed a key source of uncertainty by rejecting a no-deal Brexit, though sombre economic data and trade fears kept a lid on gains.
That pushed MSCI’s index of Asia-Pacific shares outside Japan 0.7% lower, though world shares trod water, staying well off four-and-a-half-month highs hit recently. Wall Street was set for a marginally firmer open, futures showed.
The state of trade talks also weighed on investors after US President Donald Trump said he was in no rush to complete an agreement. Trump and his Chinese counterpart Xi Jinping had been expected to hold a summit at the president’s Mar-a-Lago property in Florida later this month, but no date has been set for a meeting.
However, analysts’ risks have not been eliminated with parliament still needing to find a way forward and all 27 EU nations needing to agree an extension on Brexit.
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