· Asian shares on Friday caught the tail of a Wall Street rally aided by China’s solid export figures and a stabilization in the yuan, but fresh concerns about Sino-U.S. trade ties capped the region’s gains.
Weighing on risk appetite was a report from Bloomberg that Washington is delaying a decision about licenses for U.S. firms to restart trade with Huawei Technologies [HWT.UL].
MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.2% higher but on track to lose 2.3% for the week.
· Japanese stocks rose on Friday with the Nikkei pulling away from seven-month lows as investors took heart from a bounce on Wall Street, although fresh concerns about global trade hung over sentiment.
Gains were limited by renewed worries over the U.S.-China trade dispute after a report that the White House is delaying a decision on whether to allow U.S. companies to do business with China’s Huawei Technologies.
The Nikkei share average ended the day up 0.44% at 20,684.82.
· China stocks reversed earlier gains to fall on Friday, posting their biggest weekly decline since early May, as weak factory data and lingering trade worries weighed.
The blue-chip CSI300 index fell 1.0%, to 3,633.53, while the Shanghai Composite Index slid 0.7% to 2,774.75.
For the week, CSI300 was down 3%, while SSEC shed 3.2%, both logging their steepest weekly declines in three months.
China's factory gate prices shrank for the first time in three years in July, stoking deflation worries and putting pressure on Beijing to deliver more stimulus as the economy sputters amid an intensifying trade war with the United States.
· European stocks opened slightly lower Friday as investors monitor trade war developments and a possible collapse of the Italian government.
The pan-European Stoxx 600 slipped 0.2% at the opening bell, with bank stocks shedding 1.1% in early trade while the healthcare sector gained 0.3%.
Italy’s coalition government imploded on Thursday, as deputy prime minister and leader of Italy’s ruling League party, Matteo Salvini, declared the arrangement unworkable and called for fresh general elections.
Reference: CNBC, Reuters
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