Aug 16 - U.S. shares edged lower on Friday but were poised for weekly gains, along with stock markets elsewhere, after encouraging economic data this week helped soothe fears of a recession in the world's largest economy.
The sharp turnaround in market sentiment came after a batch of U.S. data this week showed inflation was moderating but retail spending was robust. "I do not think a lot of money has participated in this bounceback," he added, noting that thin summer trading conditions in August would have exacerbated market moves.
Japanese stocks gained following heavy losses last week after a surprise Bank of Japan rate cut sent the yen soaring against the dollar, wrecking yen-funded stock trades.
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