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China rebound drives Asian stocks higher by Reuters

© Reuters. A man looks in front of an electronic board showing stock information in a brokerage house in Nanjing By Andrew Galbraith SHANGHAI (Reuters) – Stocks in Asia fetched early losses on Friday, arising from strong gains in China as a sign of progress in trade negotiations with the United States compensated for concerns about deteriorating global economic prospects. MSCI's widest Asia-Pacific index outside of Japan was 0.3 percent higher by mid-afternoon, after spending the day dipping in and out of negative Spreadbetter's CMC Markets expect uneven performance in Europe, with London's residence 0.1 percent at the open, Frankfurt's down 0.1 percent and Paris down 0.2 percent. Chinese stocks rallied in the afternoon after a preliminary start as optimism over trade negotiations resumed, pushing the blue-chip index 2.2 percent higher. For the week, it became 5.4 percent, the strongest week since November 2015. China stocks had fallen earlier on investors' concerns that domestic growth was declining and indications that the Chinese authorities would resort to a benchmark lending rate only as One last Growth in China's new home market prices fell to a nine-month low in January, as a broader economic weakness is increasingly weighing the real estate sector and consumer confidence. Japan ended 0.2 percent lower after data showed the core Consumer inflation accelerated slightly in January but was far from the central bank's 2 percent target, which underscores the vulnerability of the country's economic recovery. Australian shares increased by 0.5 percent and Seoul Kospi reversed previous losses…


© Reuters. A man looks in front of an electronic board showing stock information in a brokerage house in Nanjing

By Andrew Galbraith

SHANGHAI (Reuters) – Stocks in Asia fetched early losses on Friday, arising from strong gains in China as a sign of progress in trade negotiations with the United States compensated for concerns about deteriorating global economic prospects.

MSCI’s widest Asia-Pacific index outside of Japan was 0.3 percent higher by mid-afternoon, after spending the day dipping in and out of negative

Spreadbetter’s CMC Markets expect uneven performance in Europe, with London’s residence 0.1

percent at the open, Frankfurt’s down 0.1 percent and Paris down 0.2 percent.

Chinese stocks rallied in the afternoon after a preliminary start as optimism over trade negotiations resumed, pushing the blue-chip index 2.2 percent higher. For the week, it became 5.4 percent, the strongest week since November 2015.

China stocks had fallen earlier on investors’ concerns that domestic growth was declining and indications that the Chinese authorities would resort to a benchmark lending rate only as One last

Growth in China’s new home market prices fell to a nine-month low in January, as a broader economic weakness is increasingly weighing the real estate sector and consumer confidence.

Japan ended 0.2 percent lower after data showed the core Consumer inflation accelerated slightly in January but was far from the central bank’s 2 percent target, which underscores the vulnerability of the country’s economic recovery.

Australian shares increased by 0.5 percent and Seoul Kospi reversed previous losses to 0.1 percent.

A combination of trade negotiations and the Federal Reserve warning of further interest rate hikes has supported more risky assets, including stocks, in recent sessions, says Rob Carnell, chief economist and research director, Asia-Pacific at ING.

But with one more dovish Fed and some kind of trading department already priced, the further development of the trade “has had no impact on markets that they would have done a week or a few weeks or months ago,” he said.

However, investors continue to closely watch loud talks between US and Chinese trade negotiators in Washington, with a little more than a week left before a US-fixed contract term expires to lead to higher fees.

Reuters reported exclusively on Wednesday that the two sides were drawn up language for six memoranda of understanding on proposed Chinese reforms, progress that had helped to lift investor sentiment.

China’s Deputy Prime Minister Liu He will meet with US President Donald Trump at the White House on Friday, the White House said.

In connection with trade discussions, new data from the United States Thursday showed that its economic prospects are also growing turbid.

The US Department of Commerce spoke Thursday that domestic orders for non-defense capital goods excluding aircraft, a closely watched proxy for business plans, fell by 0.7 percent.

In addition, the US mid-Atlantic plant contracted territory in February for the first time since May 2016, showing data from the Philadelphia Federal Reserve.

“While global manufacturing is weak, the service business looks more positive. But it is difficult to see the manufacturing and services diverge for a long time,” ANZ analysts say in a morning report.

“There are strong multiplier effects from manufacturing that lead to downward risks for manufacturing. services, especially in Europe. And trade uncertainty, which is imminent in the manufacturing sector, must be resolved. The return on benchmark was lowered to 2.6824 percent on Friday, compared to a US 2,888 percent closing on Thursday as a bullet from investor optimism on trade negotiations progress ebbed.

The two-year return, which was considered a gauge of expectations of higher Fed funds, easing to 2,5204 percent from a US close to 2,529 percent.

AUSSIE REBOUND

The Australian dollar recovered after tumbling more than 1 percent on Thursday in a Reuters report that China’s northern port in Dalian has On Friday, Australian Governor Philip Lowe warned against seeing restrictions directed at Australia, and Prime Minister Scott Morrison said the ban did not indicate acidic links between countries.

19659004] Separate comments from Lowe that an interest rate increase may be appropriate next year also helps to increase the dollar

It was last 0.2 percent at $ 0.71025.

The US dollar went up against the yen at 110.76 while the euro gained less than 0.1 percent to buy $ 1,1342.

Whoever tracks the greenback against a basket of six large rivals was steady at 96,611.

turned from small declines to rise 0.1 percent to $ 57.01 per barrel. was nearly unchanged at $ 67.09.

The gold recovered after falling more than 1 percent on Thursday, and was about 0.2 percent to $ 1,325.16 per ounce.

Graphic – China’s blue-chip CSI300 index: https://tmsnrt.rs/2BXGLRJ

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