(Adds U.S. market open, byline; changes dateline; previous
LONDON)
* China trims short-term interest rate in surprise move
* World share index less than 1% from record high
* Beijing said to be pessimistic about tariffs -CNBC
* Dollar, crude slip on CNBC report
By Herbert Lash
NEW YORK, Nov 18 (Reuters) - The dollar slipped and global
equity markets traded little changed on Monday, halting a rally
that lifted a key index to just under a new high, after a media
report cast fresh doubts on reaching phase one of a U.S.-China
trade deal.
The safe-haven Japanese yen gained and gold prices erased
losses after a CNBC report said the mood in Beijing about a
trade deal is pessimistic due to U.S. President Donald Trump's
reluctance to roll back tariffs on Chinese imports.
Stocks on Wall Street were down slightly, halting a rally
that had pushed the three major U.S. indexes to record highs on
Friday. The dip left MSCI's all-country world index
up 0.11%, close to a peak set in January 2018.
Chinese state media Xinhua over the weekend said that
Washington and Beijing had held "constructive" talks.
"There is some good news that's baked into this market, so
when we get bad news this market's going to roll over," said Art
Hogan, chief market strategist at National Securities in New
York.
Mazen Issa, senior FX strategist at TD Securities in New
York, said the market over-reacted to the report, as there was
nothing substantive that suggested the deal is off or on. "It's
just the ebb and flow" of the news cycle, he said.
The Dow Jones Industrial Average rose 2.03 points, or
0.01%, to 28,006.92. The S&P 500 lost 1.57 points, or
0.05%, to 3,118.89 and the Nasdaq Composite dropped
14.25 points, or 0.17%, to 8,526.58.
In Europe, the pan-European STOXX 600 index lost
0.22% and the FTSEurofirst 300 index of leading
regional shares fell 0.20%.
Investors hope that tariffs the United States and China have
imposed on each other's goods will be rolled back as they are
seen as harming global economic growth.
Overnight in Asia, stocks closed higher.
Tokyo's Nikkei gained 0.49% and China's blue-chip
CSI300 index rose 0.8% after the People's Bank of
China in a surprise move said it was lowering the seven-day
reverse repurchase rate.
The dollar index fell 0.31%, with the euro up
0.33% to $1.1086. The yen strengthened 0.21% versus the
greenback at 108.56 per dollar.
Benchmark 10-year U.S. Treasury notes last rose
9/32 in price to yield 1.8032%.
Spot gold was up 0.2% at $1,470.12 an ounce.
Concerns about plentiful crude supplies in 2020 also weighed
on the oil market, which expects the Organization of the
Petroleum Exporting Countries to extend production cuts in early
December to help avoid a new global glut.
Brent crude futures fell 50 cents to $62.80 per
barrel. West Texas Intermediate (WTI) crude slid 39 cents
to $57.33 a barrel.
(Reporting by Herbert Lash; additional reporting by Agamoni
Ghosh in Bengaluru and Karen Brettell in New York; Editing by
Dan Grebler)