Asian shares rose on Friday, driven by a rally in Chinese markets after index pu...
SHANGHAI - Asian shares rose on Friday, driven by a rally in Chinese markets after index publisher MSCI announced it would boost the proportion of mainland shares in its global benchmarks, while strong U.S. economic data helped the dollar higher.
That, along with strength in other markets in the region, helped push MSCI’s broadest index of Asia-Pacific shares outside Japan up more than 0.3 percent. “There’s a disconnect between China’s place in the world economy and China’s place in the world’s stock markets. And the two things can’t be diverged for so long,” he said.
U.S. President Donald Trump on Thursday fueled concerns over trade talks between the United States and China, warning that he could walk away from a trade deal with China if it were not good enough. “News that President Trump walked out of the meeting with Supreme Leader Kim, because the two sides couldn’t reach an agreement over North Korea’s nuclear disarmament, dashed hopes for an easing in geopolitical tensions,” analysts at ANZ said in a morning note.Better-than-expected U.S. economic growth in the fourth quarter had little impact on U.S. stocks. Gross domestic product rose 2.9 percent for the year, just shy of the 3 percent goal set by the Trump administration.
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