Asian shares crept ahead on Thursday as a lull in the Sino-U.S. trade tussle and talk of more Chinese stimulus helped calm nerves, while tensions in the oil market grew ahead of an OPEC meeting that could expand the supply of crude. Crude oil prices slipped in Asian trades after rising almost 2 percent overnight.
The Japanese market recovered after a weak start and is modestly higher following the mostly positive lead from Wall Street and on a weaker yen.
Australian shares rose sharply on Wednesday to reach a 10-year high. Other major markets in the region recorded gains, although greater China markets little changed before the lunch break.
The mere absence of new threats from President Donald Trump on tariffs was enough to stem recent selling, with investors clinging to the hope that all the bluster was a ploy which would stop short of an outright trade war.
Markets had also been encouraged by the People’s Bank of China’s move to set firm fixings for its yuan, along with the addition of extra liquidity. There was also much speculation the central bank would cut bank reserve requirements, thus boosting lending power in the economy.
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