Investors were focused on a string of economic releases due over the weekend including China’s official manufacturing survey, which would provide a good gauge of the real impact from the Sino-U.S. trade war.
All Asian stock markets were in black on Friday, sending MSCI’s broadest index of Asia-Pacific shares outside Japan up 1% to the highest since Aug. 23 and on track for a small weekly gain.
· Japanese stocks rallied on Friday on signs the United States and China might resume full-scale negotiations ahead of an approaching deadline for additional U.S. tariffs.
Chinese commerce ministry spokesman Gao Feng told reporters on Thursday that Beijing hopes Washington can cancel the planned tariff increase to avoid an escalation in the trade war. U.S. President Donald Trump said some discussions took place on Thursday, with more talks scheduled.
The Nikkei index ended the day up 1.19% at 20,704.37, turning from a small 0.09% loss on Thursday for an overall 1.4% gain on the week.
· China stocks traded mixed on Friday, as investor optimism over signs of fresh Sino-U.S. trade negotiations was shadowed by Washington’s firm decision to go ahead with additional tariffs on Chinese imports starting Sept. 1.
At the close, the Shanghai Composite index was down 0.2% at2,886.24 points. The index closed 0.4% lower this week and dropped1.6% in August, as a tit-for-tat escalation in the Sino-U.S. trade spat and a slump in the Chinese yuan dented sentiment.
The blue-chip CSI300 index was up 0.3% on Friday, but down 0.6%week-on-week, bringing monthly losses to 0.9%
The pan-European Stoxx 600 edged 0.1% higher in the early minutes of trading, technology and basic resources stocks leading gains with a0.4% rise while household goods fell 0.2%.
Reference: CNBC,Reuters