Asian shares gain on U.S, China trade talks


Asian shares won a modest reprieve on Friday after China and the United States agreed to hold their first trade talks since June next week and as the Turkish lira extended gains from its record low earlier this week.

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.46 percent, a day after it hit its lowest level in a year. Japan’s Nikkei advanced 0.5 percent.

European shares are expected to be little changed, with financial spreadbetters looking at an almost flat opening in three major European bourses.

In U.S. markets last Thursday, the Dow Jones Industrial Average rose 1.58 percent and the S&P 500 gained 0.79 percent.

MSCI’s index of world stocks rose 0.63 percent on Thursday, the biggest gain in a month.

News that a Chinese delegation led by Vice Minister of Commerce Wang Shouwen will meet U.S. representatives helped to improve the mood.

The meeting is set to take place as the world’s two largest economies are due to slap tariffs on billions of dollars of each other’s goods on Aug. 23, in addition to levies that took effect on July 6.

Peace PIAK