The news came hours before the signing of a preliminary trade agreement to ease an 18-month-old trade war between the world's two largest economies. Treasury Secretary Steven Mnuchin said late on Tuesday that the United States would keep in place tariffs on Chinese goods until the completion of a second phase of a US-China trade agreement, triggering some profit-taking in risk assets. China's Shanghai Composite fell 0.59 per cent and Hong Kong's Hang Seng dropped 0.72 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan retreated 0.40 per cent, Japan's benchmark Nikkei and South Korea's KOSPI shed 0.46 per cent and 0.40 per cent, respectively, while Australian stocks added 0.33 per cent. Stocks slipped in Asian trade on Wednesday as investors awaited the signing of an initial US-China trade deal, with sentiment somewhat dented by comments from the US Treasury Secretary that tariffs would remain in place for now.
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