Asian shares ticked higher on Friday as China struck a hopeful tone on trade with the United States but continued fears about a global growth slowdown, or even a recession, capped sharp rallies.
Investors were focused on a string of economic releases due over the weekend including China’s official manufacturing survey which would provide a good gauge of the real impact from the Sino-U.S. trade war.
MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.4% but stayed near a recent 7-1/2 month trough. For the week, it is set for a small weekly loss.
Japan’s Nikkei jumped 1% while South Korea’s KOSPI index gained 1.3% and Australian shares rose 0.7%.
Overnight, Wall Street added more than 1% after China’s commerce ministry said Beijing and Washington were discussing the next round of face-to-face talks scheduled for September.
Source : Reuters