China Plans Visa Restrictions for US Visitors with 'Anti-China' Links

Indian stocks may drag on weak global cues as US-China trade war weighs

Indian stocks may drag on weak global cues as US-China trade war weighs

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.44 per cent. Australian shares were down 0.92 per cent.

Japan's Nikkei slid 0.7 per cent, its biggest decline in a week.

Oil prices extended declines as United States visa restrictions on Chinese officials and the addition of more Chinese companies to a United States trade blacklist weighed on already slim hopes that Washington and Beijing could reach a truce at trade negotiations this week.

China is said to be working on visa restrictions that would limit the travel of U.S. nationals going to the People's Republic who have ties to "anti-China groups", including U.S. intelligence and human rights agencies, according to a Reuters report, citing people with knowledge of the plans.The U.S. State Department on Tuesday announced visa restrictions on Chinese government and Communist Party officials who are believed to be involved in abuse of Uighurs and other Muslim minority groups in Xinjiang, China. Although the USA has cited China's treatment of Muslim minorities in the country as the reason for the restrictions, it has created a negative backdrop for the trade talks, with negotiations set to move to top-level discussions on Thursday.

China's Ministry of Public Security has for months been working on rules to limit the ability of anyone employed, or sponsored, by U.S. intelligence services and human rights groups to travel to China.

The United States and China are engaged in a year-long row that has slowly expanded beyond trade policy, suggesting even more damage to an already fragile global economy.

Just as China appeared not to be interested in the type of comprehensive trade deal that Trump wants, matters got worse for indices on re-emerging reports that the White House is studying proposals to limit USA govt pension investments in Chinese stocks.

The pound slumped to one-month lows against the U.S. dollar, briefly slipping below $1.22, as talks between the United Kingdom and the European Union came close to collapse following a tense phone conversation between the UK and German leaders on Tuesday.

The dollar index was little changed at 99.091.

Worries about US-Sino relations lifted safe-haven assets in Asia.

Benchmark 10-year notes US10YT=RR last fell 13/32 in price to yield 1.5819%, from 1.539% late on Tuesday. The yen edged around 0.1% higher to 106.95 per dollar.

Early in the session, both Brent crude and West Texas Intermediate (WTI) rose more than 1 per cent. The spread between two-year and 10-year Treasuries, the most common definition of the yield curve, widened to 11.3 basis points. Speaking in Denver, Powell said the Fed will resume the expansion of its balance sheet, though he made it clear this did not amount to quantitative easing.

The Fed had been shrinking its balance sheet as it unwound crisis-era bond buying programmes.

In Singapore, the Straits Times Index dropped 13.05 points or 0.4 per cent to 3,097.80 as at 9:03am. The decision to allow the balance sheet to grow is in response to the recent funding squeeze in money markets that led to a spike in short-term interest rates. 24 to barrel while WTI fell 12 cents, or 0.2 per cent, at $ 52. 63.

A larger-than-expected increase in U.S. crude inventories also fanned fears that the global oil market will continue to struggle with excess supply.

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