Asian shares near one-week top on soothing trade tone, overall mood cautious

Asian shares jumped to a one-week high on Friday as the United States and China ...

SYDNEY - Asian shares jumped to a one-week high on Friday as the United States and China showed a willingness to resolve their trade dispute by returning to the negotiating table, though lingering recession fears tempered some of the enthusiasm.

E-Minis for the S&P500 also turned negative to be down 0.1% after more than 1% gain on Wall Street overnight. China’s commerce ministry also said a September round of meetings was being discussed by the two sides, but added it was important for Washington to cancel a tariff increase. Also boosting sentiment, South Korea finalised the most aggressive budget spending plan since the 2008/09 global financial crisis for next year as authorities try to prop-up Asia’s fourth-largest economy amid growing threats both at home and from abroad.

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.

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