Equities battle as upbeat US economic news and solid company earnings offer only a fleeting respite from the trade war between China and the US
A man points out an electronic board showing the Nikkei stock index outside a brokerage in Tokyo, Japan. Picture: REUTERS/KIM KYUNG-HOONAsian shares were struggling to end a bleak week in the black on Friday as upbeat US economic news and solid company earnings offered only a fleeting respite from the interminable China-US trade dispute.
“It is hard to get too excited as the news flows in the trade front points to an escalation rather than an ease in tensions,” said Rodrigo Catril, senior forex strategist at National Australia Bank. MSCI’s broadest index of Asia-Pacific shares outside Japan lost early gains to dip 0.1%. It was just above a 15-week trough but down 2% for the week.
As the earnings season winds down, of the 457 S&P 500 companies reporting about 75% have beaten profit expectations, according to Refinitiv data.Dollar in demand
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