China misses out on Asian shares’ rebound
In currency markets, Turkey’s lira — and risk appetite in general — got a lift from a surprisingly big Turkish interest rate increase
Shanghai — Shares across most of Asia rose on Friday on expectation that the US and China could launch a fresh round of trade talks, and as a surprisingly sharp interest rate hike in crisis-hit Turkey supported the lira and global risk appetite. But stocks in China fell amid lingering uncertainty over the outlook for trade. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.8%, with Australian shares up 0.6%, Seoul’s Kospi gaining 1.3% and Hong Kong’s Hang Seng up 0.7%. Japan’s Nikkei stock index was 1% higher. Those rises followed gains on Wall Street Thursday, with the Dow Jones industrial average ending 0.57% higher, the S&P 500 gaining 0.53% and the Nasdaq composite adding 0.75%. But Chinese shares fell, despite a short-lived bump from data that showed forecast-topping industrial output and retail sales data for August. Other data showed real estate investment in the country fell in August, raising concern that a cooling property market could increase risks for ...
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