Asian stocks staged a broad recovery on Friday as strong trade data from China buoyed markets at the end of a tumultuous week. The dollar steadied as Treasury yields ticked higher.
The MSCI Asia Pacific Index rose from the lowest level since May 2017, with shares in Hong Kong and South Korea leading the way. The yuan retreated following a Bloomberg report that U.S. Treasury staff concluded China isn't manipulating its exchange rate.
The MSCI Emerging Market Index surged 2.2 percent, the first advance in more than a week and the largest in more than two years.
The MSCI All-Country World Index gained 0.4 percent.
China trade data showed exports rebounded, while imports remained robust, thanks to strong demand at home and abroad despite worsening relations with the U.S. That eased some concern about the impact of the trade war, which had contributed to the worst equity sell-off since February amid worries about the Federal Reserve’s policy path.