Asian stocks inch higher, dollar retreats after DPRK-U.S. talks

Stocks around the world inched higher on Tuesday while the dollar turned negative after hitting a three-week high at the end of a historic summit in Singapore. U.S. President Donald Trump and DPRK leader Kim Jong Un signed a comprehensive deal aimed at the denuclearisation of the Korean Peninsula. The MSCI All-Country World index — which tracks shares in 47 countries — was higher by less than 0.1% on the day. In Tokyo, trading was volatile, with Japan’s Nikkei paring early gains to close 0.3% higher, rising as much as 0.9% earlier in the day. South Korean shares reacted calmly. The benchmark KOSPI index, closed virtually unchanged, down 0.05% at 2,468.83. Investors had mixed reactions to the summit, which gave few details on how the goals set by the two leaders would be achieved.

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