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Asian stock markets lost momentum Tuesday, falling from a five-month high, as investors waited for the United States and China to finalize trade agreements. Meanwhile, the pound has risen in the hope that British Prime Minister Teresa May may delay Britain's withdrawal from Europe.
The MSCI Mingsheng Asia-Pacific (excluding Japan) index fell 0.5%, off its peak since mid-September. U.S. -China trade negotiators are trying to finalize an agreement that could end the tit-for-tat tariff war between the two sides.
Trump said Sunday that he would postpone imposing tariffs on $200 billion of Chinese imports to the United States, the clearest sign of progress in bilateral trade negotiations. But his tone also sounded cautious, saying that "an agreement may be reached soon, or it may not be reached at all."
On Tuesday, Asian stock markets fell, and JPMorgan Chase analysts urged investors to "control optimism about trade negotiations" and called the extension of the deadline "an unexpected outcome".
"Most people think this will happen," they added. "There are two points worth noting. First, there is no new deadline. Second, neither side has made a formal statement after the Washington talks."
Australia's stock market fell 1.3 percent as energy stocks were dragged down by the slump in overnight oil prices.
China's stock market also fell, with the Shanghai and Shenzhen 300 index. CSI300 down more than 1% after a strong rise. Hong Kong's Hang Seng Index. HSI fell 0.6%.


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