Global shares edge higher as Aussie dollar rebounds
Shares in Asia were buoyed by a late rally in Chinese shares, with trade talks and policy U-turns by central banks propping up equities
London — Global shares rose on Friday as signs of progress on trade offset a worsening economic outlook, while the Aussie dollar recouped some losses after China denied it had halted Australian coal imports. Earnings from companies drove big stock swings as European markets opened. The pan-European STOXX 600 index was up 0.1% and Germany’s DAX 30 0.2%. Shares in Asia were buoyed by a late rally in Chinese shares, with the main blue-chip index of Chinese shares rising 2.2%. Chinese shares had faltered earlier amid concern about slowing domestic growth and indications that China would cut its benchmark interest rate only as a last resort to boost the economy. Japan’s Nikkei ended 0.2% lower after data showed core consumer inflation accelerated in January but remained far from the central bank’s 2% target. Australian shares gained 0.5% and Seoul’s Kospi KS11 ended up 0.1%. The MSCI All-Country World Index, which tracks shares in 47 countries, was less than 0.1% higher on the day. Trade...
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