Most Asian markets are stronger, but Chinese shares wobble on trade war worries
Shanghai — Most Asian share markets rose on Friday, heartened by gains on Wall Street fuelled by the expectation of strong US earnings, but China’s markets wobbled as investors braced for the impact of broadening, tit-for-tat Chinese-US tariffs. Adding to the fear that even stronger punitive measures from Washington may be on the way, China reported a trade surplus with the US of $28.97bn in June, the highest on record, according to Reuters calculations. China’s overall global export growth topped expectations, however, possibly as its exporters and big American customers rushed to beat US tariffs. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.6%, adding to a 0.6% rise on Thursday, after US stocks ended the day higher. The MSCI index rose on gains in Taiwan shares, which rose 0.8%, Seoul’s Kospi, which added 1%, and Hong Kong’s Hang Seng index, which was 0.5% higher. Australian shares turned lower, falling 0.2% after adding 0.8% Thursday. Japan’s Nikkei stock i...
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