LONDON: Hopes of a U.S.-China trade deal turned world stock markets and other risk assets higher on Friday, though an escalating wave of global protests from Hong Kong to Chile left some deep scars.
Chinese blue-chip shares ended the day down 0.75per cent and 2.4per cent for the week, which was their biggest fall since August. Fierce anti-government protests in Chile means its currency could have its worst week since 2011 with a 7per cent plunge."The politics of anger is an important element that one needs to take account off," UBP's EM macro and FX strategist Koon Chow said."Populations are feeling left behind even during the upswing.
Higher U.S. Treasury yields also illustrated the risk-on tone in the Asian session, with the 10-year yield rising to 1.845per cent from a U.S. close of 1.815per cent on Thursday. Data on Thursday had showed Germany's economy grew just 0.1per cent in the third quarter, with consumer spending helping the country to avoid a mild contraction and a technical recession of two quarters of economic shrinkage.
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