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.

Asian Shares

  • 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.

Currencies

  • 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.

Commodities

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.

Source: Investing.com

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