Asian shares rose on Friday, driven by a rally in Chinese markets after index pu...
SHANGHAI - Asian shares rose on Friday, driven by a rally in Chinese markets after index publisher MSCI announced it would boost the proportion of mainland shares in its global benchmarks, while strong U.S. economic data helped the dollar higher.
That, along with strength in other markets in the region, helped push MSCI’s broadest index of Asia-Pacific shares outside Japan up more than 0.3 percent. “There’s a disconnect between China’s place in the world economy and China’s place in the world’s stock markets. And the two things can’t be diverged for so long,” he said.
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 had little impact on U.S. stocks. Gross domestic product rose 2.9 percent for the year, just shy of the 3 percent goal set by the Trump administration.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MSCI to quadruple weighting of China A-shares in its global benchmarksGlobal index provider MSCI is quadrupling the weighting of Chinese mainland shar...
Read more »
Foreigners Snap Up Smaller China Stocks Ahead of MSCI MoveForeign investors have piled into shares of technology-focused companies and other smaller stocks in China, encouraged by their likely inclusion in MSCI’s global benchmarks.
Read more »
Asian shares slightly higher, U.S. growth lifts dollar, yieldsAsian shares inched higher on Friday with broader gains capped by investor cauti...
Read more »
Chinese Shares Gain Global Sway Thanks to Index Firm’s MoveMSCI said it would more than quadruple the weighting of mainland Chinese companies in its closely followed stock indexes, a move that will make shares in Shanghai and Shenzhen much more important to global investors.
Read more »
China’s Stock Market Isn’t Too Big to IgnoreHeard on the Street: Investors need to beware the siren call of index inclusion when deciding whether to buy Chinese stocks
Read more »
Asian stocks slip as trade optimism retreats, dollar holds gainsAsian stocks slipped on Thursday after cautious comments from U.S. Trade Represe...
Read more »
Asian stocks shaky as Sino-U.S. trade optimism retreatsAsian stocks struggled for traction on Thursday after cautious comments from U.S...
Read more »
Asia shares inch up, dollar near three-week low after Powell commentsAsian shares inched towards a five-month high on Wednesday and the dollar hovere...
Read more »
Asia shares tick up, dollar near three-week low after Powell commentsAsian shares edged higher on Wednesday and the dollar fell to a three-week low a...
Read more »