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Generally speaking, an arm’s length or a bit less of personal space is appropriate during conversations. Personal space tends to be less between members of the same gender.
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When two people of the same sex are talking, light touching is acceptable. It is common for two men (or two women) to walk hand in hand in public. This does not have any implication on their sexual preferences; it's just a sign of friendship and closeness.
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For women, it is best not to touch a man during conversations because he may take it to mean that you are interested in him. This may be different between good friends and family members.
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There is little to no touching during initial and business meetings; this is especially true between a superior and subordinates.
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Touching, expect between friends of the same sex, is seen as very significant and should be avoided.
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Public displays of affection like kissing or hugging in public are usually considered to be sexually explicit and to be avoided.