Asia shares cement weekly gains as traders await US jobs report
MSCI’s broadest index of Asia-Pacific shares ease 0.1%, but rise 1.8% for the week, as Chinese President Xi Jinping calls for early conclusion of trade talks with US
Sydney — Asian share markets consolidated their weekly gains on Friday as China-US talks produced a lot of headlines but no conclusions, while caution ahead of US payrolls and a holiday in China dampened volatility. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.1% but was only just off its highest since the end of August. The index was still up 1.8% for the week and 13% for the year so far. Japan’s Nikkei added 0.3%, to be 2.8% firmer for the week. E-Mini futures for the S&P 500 edged up 0.1%. “Share markets have run hard and fast from their December lows and are vulnerable to a short-term pullback,” said Shane Oliver, head of investment strategy at AMP Capital. “But valuations are okay, global growth is expected to improve into the second half of the year, monetary and fiscal policy has become more supportive of markets and the trade war threat is receding.” Xinhua reported Chinese President Xi Jinping had said progress was being made and called for an early co...
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