SYDNEY (Reuters) – Asian shares rose 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 0.6% but stayed near a recent 7-1/2 month trough. For the week, it is still set for a small weekly loss.
Japan’s Nikkei jumped 1% while South Korea’s KOSPI index gained 1.5% and Australian shares rose 0.9%.
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.
The comments spurred hopes for progress in the talks and boosted the Chinese yuan, which snapped a 10-day losing…
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