· Asian shares wobbled near one-week lows on Monday as investors turned cautious ahead of a closely-watched Federal Reserve meeting, while political tensions in the Middle East and Hong Kong kept risk appetite in check.
MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed by early afternoon, after opening slightly weaker. Japan’s Nikkei average also closed flat.
Investors were waiting for more clues from the Fed after policymakers raised expectations for a rate cut in recent weeks amid worries about mounting fallout from the U.S.-Sino trade war.
The Bank of Japan also meets this week and is widely expected to reinforce its commitment to retain a massive stimulus program for some time to come.
Financial markets were sideswiped by a sudden escalation in Sino-U.S. trade tensions in early May, with growing anxiety among investors that a protracted standoff could tip the global economy into recession.
· Japanese share prices struggled to make headway on Monday as uncertainties over the global economy, U.S.-China trade frictions and the U.S. Federal Reserve’s policy stance kept many investors on sidelines.
Japan’s Nikkei share average ended 0.03% higher at 21,124, helped by gains in a few of its heavyweights such as SoftBank Group and Fast Retailing.
Investors remain unsure how the United States and China can resolve their disputes over tariffs and technology, and uncertain whether U.S. President Donald Trump and Chinese leader Xi Jinping will meet on the sidelines of a Group of 20 summit in Osaka next week.
· Chinese stocks ticked up on Monday on expectations of further policy support, but trading remained subdued as investors awaited cues from the U.S.-China trade negotiations at the G20 summit later this month.
At the close, the Shanghai Composite index was up 0.2% at 2,887.62, while the blue-chip CSI300 index was flat.
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