Asian shares inched higher on Friday with broader gains capped by investor cauti...
SHANGHAI - Asian shares inched higher on Friday with broader gains capped by investor caution as concerns about China’s economy and global trade weighed on sentiment while stronger-than-expected U.S. GDP data pushed the dollar up.
Japan’s Nikkei 225 gained 0.8 percent, helped by the weaker yen, while Australian shares added 0.6. percent. U.S. President Donald Trump on Thursday fueled concerns over trade talks between the United States and China, warning that he could walk away from a trade deal with China if it were not good enough.
“News that President Trump walked out of the meeting with Supreme Leader Kim, because the two sides couldn’t reach an agreement over North Korea’s nuclear disarmament, dashed hopes for an easing in geopolitical tensions,” analysts at ANZ said in a morning note.Better-than-expected U.S. economic growth in the fourth quarter was not enough to lift Wall Street on Thursday. Gross domestic product rose 2.9 percent for the year, just shy of the 3 percent goal set by the Trump administration.
Dallas Federal Reserve Bank President Robert Kaplan said on Thursday that it will take time to see how much the U.S. economy is slowing, supporting views of the Fed’s rate-hike holiday at least through to June.
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