Asian stocks struggled on Friday to track Wall Street’s exuberance about a possible U.S. rate cut next month as anxiety over Sino-U.S. trade negotiations clouded the investor mood in the region.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.1%. The index was up 4% on the week, during which it brushed its highest level since May 8.
Japan’s Nikkei was flat, capped by the yen’s big surge.
The S&P 500 hit a record high on Thursday after this week’s Federal Reserve meeting boosted expectations that the central bank will cut interest rates as soon as next month to keep the U.S.-China trade war from stalling economic growth.
Source : Reuters