Most Asian stocks rose on Friday as investors weighed better-than-expected Chinese manufacturing data against uncertainty about an interim US-China trade deal.
Equities in Japan pared losses, while shares in Hong Kong and China rose after the Caixin manufacturing gauge unexpectedly climbed.
Equities in Seoul shrugged off the latest plunge in South Korean exports.
Sentiment had weakened earlier and the S&P 500 slipped overnight after Bloomberg reported that Chinese officials have warned they would not budge on the thorniest trade issues.
Chinese officials cast doubts about reaching a comprehensive long-term trade deal with the US even as the two sides get close to signing a “phase one” agreement.
“Markets participants, as well as maybe even the [US Federal Reserve], have been very optimistic” on the trade truce, Pacific Investment Management Co chief US economist Tiffany Wilding told Bloomberg TV. “We can see some more deterioration there.”
The MSCI Asia Pacific Index rose 0.3 percent to 163.66, up 1.5 percent for the week.
Hong Kong’s main stock index closed at its highest level in more than six weeks on Friday on the Chinese data and increased hopes of a US-China trade deal.
The weighted index on the Taiwan Stock Exchange on Friday rose 40.82 points, or 0.36 percent, to close at the day’s high of 11,399.53, up 0.9 percent for the week.
The Hang Seng index on Friday climbed 0.7 percent to 27,100.76 points, its highest level since Sept. 16. The index gained 1.6 percent week-on-week.
The Hang Seng China Enterprises Index rose 0.9 percent on Friday, up 1.5 percent for the week.
The sub-index of the Hang Seng tracking energy shares rose 0.5 percent, the IT sector climbed 0.3 percent, the financial sector ended 0.9 percent higher and the property sector rose 0.8 percent.
Factory activity in China last month expanded at its fastest pace in more than two years as export orders and production rose, a private business survey showed.
The expansion beat expectations and contrasted with the dour results of an official survey on Thursday.
In Japan, the TOPIX was little changed on Friday and the Nikkei closed down 0.3 percent, trimming its weekly gains to 0.2 percent.
South Korea’s KOSPI on Friday advanced 0.8 percent, up 0.6 percent for the week.
India’s NIFTY 50 inched up 0.11 percent on Friday, carrying its weekly gains to 2.6 percent. The SENSEX was little changed on the day, but was up 2.8 percent for the week.
The Philippines Stock Exchange Index fell 0.5 percent on Friday, but was up 0.7 percent for the week.
The Kuala Lumpur Composite Index on Friday fell 0.3 percent, but gained 1.5 percent on the week.
Australia’s S&P/ASX 200 Index was little changed.
Additional reporting by staff writer, with CNA
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