Asian stocks mixed as trade wars deplete sentiment

HONG KONG, March 19 (AFP): Asian markets were mixed and gold hit another record high Wednesday as trade war worries cast a shadow and geopolitical concerns returned to the fore.

The tepid start to the day followed tech-led losses on Wall Street, while an agreement between US President Donald Trump and Russian leader Vladimir Putin to stop targeting Ukrainian energy was met with a shrug.

The yen gave up initial gains against the dollar after the Bank of Japan kept interest rates on hold, warning about the outlook amid "high uncertainties" including over trade.

Investors are also gearing up for central bank decisions in the United States, the United Kingdom and Indonesia, where stocks tanked Tuesday on concerns about Indonesia's economy.

Fresh pledges by China to boost domestic consumption and welcome data out of the United States that eased recession worries helped Asian markets to a strong start to the week.

But Trump's scattergun trade policies, which have seen him impose measures on some key partners but delay others, have stoked uncertainty.

Many economists have warned that the tariffs-which are being met with retaliation by some countries-will tip the US economy, and possibly others, into recession.