SYDNEY - Asian shares pulled ahead on Thursday as corporate earnings and a ceasefire in northern Syria helped prop up sentiment, though the backdrop of trade and brexit uncertainties was enough to prevent a decisive shift towards riskier assets.
South Korea earlier reported third quarter growth slightly below expectations, while a private survey showed Japanese factory activity shrank at the fastest pace in over three years in October, hurt by slowing global demand and trade frictions.Risk appetite was also aided after U.S. President Donald Trump lifted sanctions on Turkey saying a ceasefire in northern Syria was now permanent.
RBC Capital Markets’ chief economist Tom Porcelli pointed to consistently alarming headlines since the first quarter of 2018 suggesting poor Caterpillar earnings meant a recession was round the corner, though that has yet to transpire.
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