Asian shares follow Wall Street higher, and Turkey’s lira extends its rebound from record lows
Tokyo — Asian shares won a modest reprieve on Friday after China and the US agreed to hold their first trade talks since June, and as the Turkish lira extended gains after hitting a record low earlier this week. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.4%, a day after it hit its lowest level in a year. Japan’s Nikkei advanced 0.5%. In US markets on Thursday, the Dow Jones industrial average rose 1.58% and the S&P 500 gained 0.79%. MSCI’s index of world stocks rose 0.63% on Thursday, the biggest gain in a month. News that a Chinese delegation led by vice-minister of commerce Wang Shouwen will meet US representatives next week helped to improve the mood. But the impact could be short-lived as such lower-level talks alone are unlikely to resolve the trade dispute. White House Economic adviser Larry Kudlow warned Beijing not to underestimate President Donald Trump’s resolve in pushing for changes in China’s economic policies. And Chinese share markets were har...
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