TOKYO (Reuters) – Asian stocks hovered below a nine-month high on Tuesday after disappointing bank earnings dented Wall Street, though recent signs that the global economy is likely to avoid a sharper downturn helped limit the losses.
FILE PHOTO: A man looks on in front of an electronic board showing stock information at a brokerage house in Nanjing, Jiangsu province, China February 13, 2019. REUTERS/Stringer/File Photo
MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed by mid-morning.
The index had risen to its highest level since July 2018 the previous day after strong export and banking data from China last week eased investors’ concerns about the health of the world’s second-largest economy.
Expectations that Chinese and U.S. trade negotiators would strike a deal soon