Asian shares rise on trade talks hope
Asian shares gained on Friday, joining a global trend as investors took heart from firm U.S. economic data plans hopes a meeting between U.S. and Chinese negotiators next month signals an easing in trade tensions.
- MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.4%.
- The Shanghai Composite Index edged up 0.1%.
- Hong Kong’s Hang Seng was up 0.2%.
- Australian stocks gained 0.5%.
- South Korea’s KOSPI climbed 0.1%.
- Japan’s Nikkei advanced 0.4%.
- The dollar stood at 107.000 yen after climbing to a one-month high of 107.235 overnight.
- The greenback has gained about 0.7% against the safe-haven yen.
- The Australian dollar traded close to a one-month peak of $0.6830.
- The euro was steady at $1.1039 after rising 0.5% overnight.
- The 10-year Treasury yield was at 1.536%, having risen from a three-year trough of 1.428% plumbed midweek as soft economic data and Sino-U.S. trade worries stoked global recession concerns.
- Japan’s 10-year government bond yield climbed 2.5 basis points to minus 0.250%, putting some distance between a three-year low of minus 0.295% set earlier this week.
- Brent crude oil futures were little changed at $60.97 per barrel, losing some steam after posting strong gains over the past two sessions.