Asian shares rose on Friday; U.S.-China trade talks progress
Asian shares rose on Friday,on hopes that Washington and Beijing are making progress in trade talks, while global bond yields moved higher after a prolonged slide on worries about the economic outlook.
- MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.5 percent.
- Japan’s Nikkei added 1 percent.
- The S&P 500 on Thursday rose 0.36 percent.
- Nasdaq Composite added 0.34 percent.
- The euro stood steady at $1.1228
- The yen was a shade weaker at 110.785 to the dollar.
- The British pound crawled up 0.2 percent to $1.3069.
- The Turkish lira tended its wounds after a 4 percent plunge on Thursday.
Sterling had taken a knock as the prospect of a swift agreement on Brexit faded with the British parliament yet again failing to agree on a way forward.
Oil futures were quickly recovering from the damage caused by Trump’s call for OPEC to boost crude output in an effort to lower prices.
- US crude futures traded at $59.64 per barrel.
- Palladium rose 1 percent.