Asian shares posted narrow gains on Friday on revived hopes of progress in U.S.-China trade talks, while global bond yields moved higher after a prolonged slide on worries about the economic outlook.
The mood was brightened after U.S. officials said China has made proposals in trade talks with the United States on a range of issues that go further than it has before, including on forced technology transfer. Data published on Thursday showed U.S. economic growth was slower than initially thought in the fourth quarter, with GDP growth revised down to 2.2 per cent from an earlier reading of 2.6 per cent.
The Turkish lira licked its wounds after a 4 per cent plunge on Thursday. President Tayyip Erdogan blamed the currency’s weakness on attacks by the West ahead of nationwide local elections on Sunday.