Asian battle to decide on a direction ahead of crucial US-China talks
Shanghai — Asian shares wavered on Friday as investors were on edge before a crucial weekend meeting between the Chinese and US presidents that could determine the course of a heated trade war over the next year. MSCI’s broadest index of Asia-Pacific shares outside Japan wobbled between positive and negative territory in early trade, as more evidence of a slowdown in China dampened sentiment. It was last up less than 0.1% and has risen 2.7% for the week so far, largely reflecting a rebound from a recent steep sell-off. In Japan, the Nikkei was up 0.4%, while Korean shares dropped 0.2% after the country’s central bank lifted its policy interest rate in a widely expected decision. Chinese blue chips advanced 0.5% despite a survey showing China’s factory growth stalled for the first time in more than two years in November. The weak manufacturing growth reinforced expectations that Beijing will roll out more economic support measures — a factor that has helped to prop up battered Chines...
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