Asian shares climb to seven-month peak
MSCI’s broadest index of Asia-Pacific shares outside Japan rises 0.5% on upbeat US and China trade talks
Shanghai — Asian shares rose to seven-month highs on Wednesday as investors lapped up signs of progress in US-China trade talks and brisk economic data, while oil approached the key $70 per barrel mark. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.5% at about 03.10 GMT, after earlier touching its highest level since late August. The index has risen nearly 3% since Thursday following reports of progress in trade talks between the US and China, as well as reassuring factory activity data from China and the U.S. The run of gains for stock markets worldwide has also pushed MSCI’s key gauge of global equities to a six-month high. The global index was up 0.2% on Wednesday morning. Hopes for a deal to end the trade war between the world’s two largest economies were fanned by fresh comments from White House economic adviser Larry Kudlow that Washington expects “to make more headway” in talks this week. Even so, analysts struggled to point to a clear catalyst for the e...
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