Most Asian stocks traded higher Friday despite a lackluster session for U.S. shares amid concerns over a delayed Sino-American trade deal. Treasuries steadied and the dollar held gains.
Equities in Japan and China outperformed, with modest gains seen in Hong Kong. Earlier, the S&P 500 spent most of the session fluctuating between gains and losses in thin trading, before edging lower at the close. News that a meeting to end the trade war with China won’t happen this month had weighed on sentiment. The pound steadied as Prime Minister Theresa May won the endorsement of British politicians to seek to delay Brexit day. The yen edged lower ahead of the Bank of Japan’s policy announcement.
The MSCI Asia Pacific Index added 0.6 percent as of 10:10 a.m. Hong Kong time. Japan’s Topix index rose 1.1 percent.
Shanghai Composite added 1.2 percent. Hang Seng up 0.5 percent. Australia’s S&P/ASX 200 Index little changed. South Korea’s Kospi gained 0.9 percent.