· A broad gauge of Asian equities made a slight recovery on Friday from three-week lows hit the previous day, with gains limited by investors’ uncertainty over chances of China and the United States striking a preliminary deal soon to end their trade war.
On Friday afternoon, MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was up 0.2%.
Markets showed little reaction to President Xi Jinping’s reiteration on Friday that China wants to work out an initial trade agreement with the United States and has been trying to avoid a trade war, but it is not afraid to retaliate when necessary.
· Japanese shares gained on Friday as cautious optimism about the prospect of the United States and China reaching a trade agreement lifted investors’ risk appetite.
The Nikkei index ended up 0.32% at 23,112.88 points as exporters in the IT sector and the industrial equipment sector paced gains.
China has invited top U.S. trade negotiators for a new round of face-to-face talks in Beijing, the Wall Street Journal reported on Thursday, on hopes the talks can take place before next Thursday’s Thanksgiving holiday in the United States.
· China stocks posted their lowest close in almost three months on Friday amid concerns over deteriorating relations between Beijing and Washington after two U.S. warships sailed near islands claimed by China and as the United States backed Hong Kong protesters.
The Shanghai Composite index hit its lowest level since Aug. 26 in intraday trade before settling down 0.6% at 2,885.29. It fell 0.2% this week.
· European stocks opened slightly higher on Friday despite mixed signals over the status of U.S.-China trade discussions.
The pan-European Stoxx 600 edged 0.2% higher in early trade, with basic resources stocks climbing 0.8% as most sectors and major bourses edged into positive territory.
Reference: Reuters, CNBC
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