Asian shares pushed higher on Friday as positive sentiment from a strong session on Wall Street overnight outweighed a resurfacing of trade tensions.
Stocks rose across the region even as Bloomberg reported that the White House is holding off on a decision about licenses for US companies to restart business with Huawei Technologies Co (華為).
US President Donald Trump later said that the US would not do business with the company for the time being.
Japanese bond yields ticked lower after the Bank of Japan made changes to purchases across three maturity zones in moves that indicated the central bank is seeking to address a flattening yield curve.
Global equities were recovering from Monday’s biggest plunge since February last year, although concern remains that China might continue to allow its currency to weaken.
The country’s producer price index contracted for the first time in nearly three years, dimming the outlook for manufacturers’ profits amid the China-US trade dispute.
“Trade issues continue to be exacerbated and we’re in somewhat of a quagmire,” People’s United Advisors Inc chief fixed income strategist Karissa McDonough told Bloomberg TV. “It seems that neither Trump nor China has any real incentive to come to the table.”
The weighted index on the Taiwan Stock Exchange rose 1.04 percent to 10,494.49 points on Thursday, down 0.5 percent for the week. Markets in Taiwan were closed on Friday due to Typhoon Lekima.
The MSCI Asia-Pacific Index on Friday rose 0.21 percent to 152.26, but was down 2 percent for the week.
Japan’s TOPIX rose 0.4 percent on Friday, but lost 2 percent on the week.
South Korea’s KOSPI climbed 0.9 percent on Friday, paring its weekly losses to 3 percent.
In Australia, the S&P/ASX 200 Index rose 0.25 percent, down 2.7 percent for the week.
India’s NIFTY 50 added 0.7 percent on Friday, bringing its weekly gain to just above 1 percent. The SENSEX also rose 0.7 percent for the day and was up 1.25 percent for the week.
Hong Kong stocks skid on Friday to post their third straight week of losses, weighed by protests and weak data in China.
The Hang Seng Index fell 0.7 percent, while the China Enterprises Index (HSCE) lost 0.5 percent.
For the week, the Hang Seng lost 3.5 percent, while the HSCE dropped 3.3 percent.
Additional reporting by CNA and staff writer
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