* 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 pulled back slightly
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 eased 0.11%. Australian shares .AXJO were down
0.09%, Chinese stocks .CSI300 drifted 0.08% lower while
Japan's Nikkei stock index .N225 tacked on 0.2%.
Treasury yields fell slightly in Asia and crude oil futures
also dipped as investors took a breather as U.S. and Chinese
negotiators continued their efforts to seal a preliminary trade
deal. The world's two biggest economies have signalled they are
pushing hard for a 'phase one' trade agreement, possibly some
time this month.
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 0.11% lower on Wednesday in
Asia after the S&P 500 gave up just 0.01% on Tuesday, having
reached a record high in the previous trading session.
Traders and investors hope a preliminary Sino-U.S. trade
pact 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.
In the onshore market the yuan CNY=CFXS traded at 6.9976
versus the dollar, approaching a three-month high as currency
traders took their cue from hopes for a trade deal.
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 1.8442% in Asia on Wednesday, while the two-year yield
US2YT=RR fell slightly to 1.6145%.
A jump in oil prices overnight also faded in Asian trading.
U.S. crude CLc1 fell 0.47% to $56.96 per barrel. Brent
crude LCOc1 fell 0.52% to $62.63 per barrel.
Elsewhere in the currency market, the dollar continued to
benefit from the positive ISM data.
The dollar traded at 109.076 yen JPY=EBS , close to its
highest since Aug. 1. The greenback also changed hands at
$1.1075 per euro EUR=EBS , approaching its highest level since
Oct. 16.
(Editing by Lincoln Feast & Shri Navaratnam)