NEWS： There is still uncertainty in the Sino US trade agreement
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Asian stocks retreated Friday from a six-month high amid uncertainty over whether and when a trade agreement between the two countries will be signed. The trade war has slowed economic growth and triggered market shocks.
Global markets rallied overnight after news that China and the United States agreed to lift tariffs on each other's goods during the 16 month long trade war as part of the first phase of the trade agreement.
But there was profit taking in Asian trading on concerns that the deal could still break, as an external trump adviser said no specific agreement had been reached on phasing out tariffs.
As part of the first phase of the trade agreement, the agreement between the United States and China to lift existing tariffs faces strong opposition from inside the White House and its external advisers, according to several people familiar with the matter.
The MSCI Mingsheng Asia Pacific Index (excluding Japan) fell 0.2% to 536.43, after rising to 538.77, its highest level since early May. The index has risen more than 2% this week.
The Nikkei. N225 rose to a 13-month high earlier, but some gains were reversed, with the latest rise of 0.05%. China's stock market is strong, with the CSI300 up 0.4%.
"There is less optimism in Washington, D.C., with reports that White House advisers disagree on the plan," said Jeffery Halley, senior market analyst at OANDA.
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