* GRAPHIC-2019 asset returns:
* Nickel hits lowest in over four months (Releads, adds fresh comment, updates with closing prices)By Pratima DesaiLONDON, June 5 (Reuters) - Copper sunk to a five-month lowon Wednesday as a firmer dollar and anxiety about the fallout ongrowth and demand from the U.S.-China trade dispute outweigheddovish comments from the U.S. Federal Reserve chairman.Benchmark copper on the London Metal Exchange fell1.5 percent to $5,792 a tonne in after-hours electronic trading,the weakest since Jan. 4.
It had shed 0.6% to $5,807 a tonne in closing open outcrytrading, reversing direction after earlier touching a high above$5,900.
The market has been losing ground in recent months onworries about demand in China, which accounts for around half ofglobal consumption of industrial metals."It still all comes down to trade and without a resolutionthere things haven't really changed, even if the Fed does cut,"a copper trader said.
RATES: Metals got a fillip in the morning after the Fedchairman said on Tuesday the central bank will respond "asappropriate" to the risks posed by a global trade war and otherrecent developments, remarks that seemed to open the door to thepossibility of a rate cut. The U.S. central bank meets June 18-19.
"The Fed can blunt the impact of a slowdown from tradetaxes. It probably cannot stop a slowdown from trade taxes," UBSanalysts said in a note.
DOLLAR: The dollar index was slightly firmer by theLME close, having recovered after earlier falling to aneight-week low. A stronger U.S. currency makes dollar-denominatedcommodities more expensive for holder of other currencies, whichcould potentially crimp demand. This is a relationship used byfunds to generate buy and sell signals from numerical models.CHINA: Metals markets are looking ahead to industrialproduction and investment data from China for clues to demandprospects over coming months.G20: Also on the radar is a meeting of the Group of 20nations in Japan over the weekend, where trade tensions will bea major topic of discussion. NICKEL: Nickel , untraded in closing rings, was down0.8% at $11,720 a tonne in electronic activity at 1600 GMT, thelowest since Jan. 24. It slipped on worries about weaker demandfrom the stainless steel sector, which accounts for two-thirdsof global demand estimated at around 2.4 million tonnes.Also weighing on nickel are increases in stocks inLME-approved warehouses, which have been on a downtrend sincelate 2017. Latest data shows stocks are up 5,136 tonnes at164,052.
PRICES: Aluminium finished 0.8% weaker at $1,771 atonne, zinc ceded 0.6% to end at $2,461.50, lead added 1% to $1,865 and tin rose 0.4% to $19,175.<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^Top Base and Precious Metals Analysis - GFMS ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Pratima Desai; Editing by Jan Harvey and KirstenDonovan)