Asian shares track Wall St gains but China worries weigh

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HONG KONG: Asian shares edged up on Friday, building on Wall Street's positive lead after a set of strong U.S. corporate earnings, although worries about the Chinese economy capped gains.

Oil prices were at multi-year highs, a drag on growth in energy-importing markets in north Asia, but good news for some energy-exporting markets in Southeast Asia.

Japan's Nikkei rose 1.56%, with analysts also pointing to gains on Wall Street boosting local tech names. Chinese shares rose more cautiously than elsewhere with blue chips up 0.43% and the Shanghai Composite index gaining 0.46%, as investors balanced expectations of policy easing against worries of a slowing economy, ahead of quarterly GDP data due Monday.

The dollar index, which measures the greenback against a basket of currencies, was marginally lower on the day, at 93.97 and set for its first weekly decline versus major peers since the start of last month, having lost a little ground on sterling and the euro.

 

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