SHANGHAI: Asian shares inched higher on Friday with broader gains capped by investor caution as concerns about China's economy and global trade weighed on sentiment while stronger-than-expected U.S. GDP data pushed the dollar up.
Gains in Chinese shares may be further boosted after global index provider MSCI said it would quadruple the weighting of mainland shares in its global benchmarks later this year, potentially drawing more than US$80 billion of fresh foreign inflows to the world's second-biggest economy. "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.Channel NewsAsia - Sentifi topic widget
The U.S. GDP data, however, did help lift yields on benchmark 10-year Treasury notes to 2.7222 percent on Friday from a U.S. close of 2.711 percent on Thursday.
Source: Financial Digest (financialdigest.net)
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