· Asian stocks bounced back from 9-month lows in volatile trade on Friday after Washington slapped tariffs on Chinese imports, a move many investors fear could be the start of a full-scale trade war between the world’s two largest economies.
MSCI’s broadest index of Asia-Pacific shares outside Japan, which dropped 0.5 percent early in the day, had gained 0.6 percent by mid-afternoon.
· Japan’s Nikkei share average rose for the first time this week in a positive end to Friday, as investors took heart from gains in Chinese stocks and covered their short positions after early wobbles when Washington’s tariffs on Chinese imports took effect.
The Nikkei ended 1.1 percent higher to 21,788.14, snapping a four-day losing streak. The index dropped 2.3 percent for the week, posting third weekly declines.
· China’s stocks clawed back earlier losses on Friday but lengthened a string of weekly declines as Washington’s tariffs on Chinese goods took effect, escalating the trade row between the world’s two largest economies.
The Shanghai Composite Index .SSEC ended up 0.5 percent after flirting with two-year lows in the morning session. It ended the week 3.5 percent lower, its seventh straight week of losses.
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