Asian stock markets fell on Tuesday, before the relief rally faded as doubts grew over whether China and the United States could resolve trade disputes.
The upside-down yield curve of U.S. government bonds has also raised concerns about a possible recession in the U.S. economy.
The MSCI Mingsheng Asia-Pacific (excluding Japan) index fell 0.3%, making it difficult for China's stock market to rise above the level.
The Shanghai and Shenzhen 300 index. CSI300 slightly fell, while the Shanghai Composite Index. SSEC slightly rose. Hong Kong's Hang Seng Index. HSI fell 0.3%.
Australian stock market fell 0.8%, Korean composite stock index. KS11 fell 0.6%, Nikkei index. N225 fell 1.3%.
The temporary truce in the Sino-US trade war triggered a global stock market rally on Monday, with the MSCI Mingsheng Global Market Index rising 1.3%.
But U.S. stocks still fell from their mid-day highs before the day's close, as investors carefully considered the unresolved issues between the two countries.
Overnight, the Dow Jones industrial average. DJI rose 1.13%, the S&P 500 index. SPX rose 1.09%, and the Nasdaq index. IXIC rose 1.51%.
"Overnight general trade news may leave more questions than answers to the market. Can the United States and China really resolve their differences within 90 days?" Analysts at the National Bank of Australia (NAB) wrote in a report to clients.
"More details and signs of progress seem to be needed if the initial warmth and vagueness of the trade truce is to be maintained."
There are different opinions about when 90 days start. One White House official said it started on December 1, while Larry Kudlow, director of the White House National Economic Council, said it started on January 1.
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