GLOBAL MARKETS-Asian markets tread water as investors await clues on trade

* Asian stock markets: https://tmsnrt.rs/2zpUAr4
* Asian equities swing between gains and losses
* Treasury yields reverse course and fall in Asia
* Traders looking for more progress in U.S.-China trade row

By Stanley White
TOKYO, Nov 6 (Reuters) - Asian shares were little changed on
Wednesday as investors awaited new developments toward scaling
back a bruising trade war between the United States and China.
MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS was unchanged. Australian shares .AXJO were up
0.14%, while Japan's Nikkei stock index .N225 rose 0.35%.
Treasury yields fell slightly in Asia and crude oil futures
also dipped as some investors started to temper their optimism
about progress in the trade dispute in the absence of concrete
progress in negotiations between the world's two-largest
economies.
The dollar held onto overnight gains against the yen and the
euro after better-than-expected data on the U.S. services
sector, but some analysts warn it will be difficult to shake
lingering concern about the global economic outlook.
"We've had a good run-up, but there may be some
consolidation," said Shane Oliver, head of investment strategy
and chief economist at AMP Capital Investors in Sydney.
"The trade war is the biggest reason that global growth has
weakened over the past 18 months. We would like to see tariffs
scaled back. We're still waiting for clearer signs of a
resolution."
U.S. stock futures ESc1 edged 0.05% lower on Wednesday in
Asia after the S&P 500 fell 0.01% on Tuesday, having reached a
record high in the previous trading session.
The United States and China have signalled they are pushing
hard to reach a preliminary "phase one" trade agreement,
possibly some time this month.
Traders and investors hope this will roll back at least some
of the punitive tariffs that Washington and Beijing have imposed
on each other's goods, but it is still uncertain when or where
U.S. President Donald Trump will meet Chinese President Xi
Jinping to sign the agreement. Treasury prices rose slightly in Asia, recovering from a
sell-off on Tuesday after data from the Institute for Supply
Management (ISM) showed the U.S. services sector expanded more
than expected in October.
The yield on benchmark 10-year Treasury notes US10YT=RR
fell to 1.8495% in Asia on Wednesday, while the two-year yield
US2YT=RR fell slightly to 1.6185%.
A jump in oil prices overnight also faded in Asian trading.
U.S. crude CLc1 fell 0.35% to $57.03 per barrel.
In the currency market, however, the dollar continued to
benefit from the positive ISM data.
The dollar, which traded at 109.16 yen JPY=EBS , close to
its highest since Aug. 1. The greenback also traded at $1.1075
per euro EUR=EBS , approaching its highest level since Oct. 16.

(Editing by Lincoln Feast)