[HONG KONG] Asian markets rose on Friday, putting them on course to end the week on a positive note with investors looking past a downgrade of US growth to focus on the next round of top-level China-US trade talks.
A slight pick-up in the key US 10-year Treasury yield provided some sense of stability, though dealers remain on edge over the future, with data showing the US economy grew at a much slower pace than initially thought in October-December. "Risk assets are being supported right now, in my view, by a dovish Fed, a China stabilisation and better sentiment around geopolitical risks," Frances Donald at Manulife Asset Management told Bloomberg news.In morning trade Shanghai surged 1.8 per cent, Hong Kong added 0.7 per cent and Tokyo headed into the morning one per cent higher.
On currency markets the upbeat mood helped the dollar rise against the safe-haven yen, while the pound was unable to break out of a narrow range as the Brexit saga rumbles on.
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