Sydney — Investors rediscovered a taste for the dollar and Asian shares on Thursday as upbeat Chinese and US economic news whetted appetite for riskier assets globally, even as tension over North Korea simmered in the background. Oil prices were upended as flooding and damage from Tropical Storm Harvey shut nearly 25% of US refinery capacity, curbing demand for crude. The resulting risk of fuel shortages sent US petrol futures up 6.4% in Asian trading to their highest in more than two years. Prices have surged more than 20% in the past week. Adding to the brighter mood, a survey showed growth in Chinese manufacturing sector unexpectedly accelerated in August, confounding forecasts for a slight slowdown. The official version of the purchasing managers index (PMI) firmed to 51.7, from 51.4 in July. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.2%, leaving it a modest 0.7% firmer for the month so far. Japan’s Nikkei rose 0.6% to its best level in two weeks, help...
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