Asia stocks inch up but gains capped by fresh Sino-US trade worries

TOKYO: Asian shares caught the tail of a Wall Street rally on Friday, helped by China's better-than-expected export figures but fresh concerns about Sino-U.S. trade ties are likely to limit gains in the region.

On Wall Street, the S&P 500 registered its largest one-day percentage gain in about two months on Thursday, with the Dow and the Nasdaq also climbing more than 1per cent. U.S. data pointed to a robust labor market as the number of Americans filing applications for unemployment benefits unexpectedly fell last week, allaying some worries about a recession and helping Treasury yields rise.

"I think the rate cuts by the Asian central banks were in response to the weakening business environment due to the trade wars. The Fed is influenced by the same things and that will probably cause a further rate cut here."

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