GLOBAL MARKETS-Asia stocks camp near peaks as trade talks drag on

* Asian stock markets : https://tmsnrt.rs/2zpUAr4
* Nikkei starts weaker but near 13-mth high
* Reuters reports phase 1 trade deal delayed to Dec
* Bonds bounce, dollar cedes some gains to yen

By Wayne Cole
SYDNEY, Nov 7 (Reuters) - Asian shares paused near
multi-month peaks on Thursday while bonds eked out a bounce as
reports of delays in sealing a preliminary Sino-U.S. trade deal
left investors frustrated at the lack of concrete progress.
MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS was a shade lower, just off a six-month high hit
earlier in the week.
Japan's Nikkei .N225 started in the red, having touched a
13-month top on Wednesday, while South Korean stocks .KS11
were 0.3% down after hitting their highest since May.
E-Mini futures for the S&P 500 ESc1 were down a notch.
Reuters reported on Wednesday a meeting between U.S.
President Donald Trump and Chinese President Xi Jinping to sign
an interim trade deal could be delayed until December as
discussions continue over terms and venue. Among various suggestions was to sign a deal after a
scheduled NATO meeting in early December. "One could take the view that by not committing to meet the
original deadline it gives more time for a somewhat more
comprehensive agreement to be thrashed out," said Ray Attrill,
head of FX strategy at National Australia Bank.
"But markets have understandably jumped the other way,
exhibiting a slight loss of confidence that anything more
substantial than an agreement not to further lift tariffs, in
return for some increase in US agricultural purchases, can be
agreed by way of an initial deal."
Wall Street was underwhelmed by the news and the Dow .DJI
ended Wednesday all but flat, while the S&P 500 .SPX gained
0.07% and the Nasdaq .IXIC dropped 0.29%.
HP Inc HPQ.N rose over 6% after Reuters reported U.S.
printer maker Xerox Holdings Corp XRX.N has made a roughly $33
billion cash-and-stock offer for the computer group. The pause in the risk rally helped bonds recoup a little of
their recent losses. Yields on benchmark U.S. 10-year notes
US10YT=RR fell back to 1.82% from a two-month top of 1.87%.
That in turn restrained the dollar, which eased to 108.94
yen JPY= from a weekly high of 109.24. The dollar was just a
shade softer on a basket of currencies at 97.949 .DXY .
The euro was struggling to bounce at $1.1068 EUR= ,
perilously close to chart support at $0.1060.
Spot gold was little changed at $1,490.23 per ounce XAU=
and well within recent tight trading ranges.
Oil prices nursed losses after taking a hit from a
surprisingly large build in U.S. crude inventories. O/R
U.S. crude CLc1 was 2 cents lower at $56.33 a barrel.

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Asia-Pacific valuations https://tmsnrt.rs/2Dr2BQA
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(Editing by Shri Navaratnam)