Tokyo — Asian shares were hobbled on Friday by a downbeat performance on Wall Street although they remained on track for weekly gains, while oil prices extended a rally on the hope for output cuts. MSCI’s broadest index of Asia-Pacific shares outside Japan erased early modest gains and turned down 0.3%, shy of nearly two-year highs probed in the previous session but still up 1.6% for the week. Australian shares skidded 0.9%, led by financials, while the Shanghai Composite index added 0.4% as the Chinese central bank’s move to inject funds amid liquidity worries offered some solace. "We’ve had a nervous twitch about China, over this week," said Sean Darby, chief global equity strategist at Jefferies. "We’ve had a bit more of a regulatory overhang coming through in the financial system." China’s banking regulator this week launched emergency risk assessments of lenders’ new business practices, sources told Reuters, as Beijing deepened its crackdown on shadow banking. Earlier in the da...
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