Asian shares were flat and U.S. Treasury yields pulled back on Friday as investo...
SHANGHAI - Asian shares were flat and U.S. Treasury yields pulled back on Friday as investor caution prevailed ahead of the release of first-quarter corporate earnings, although stronger U.S. economic data helped offset some concerns about global growth.
Higher Chinese iron ore prices helped Australian shares outpace regional markets, pushing Australia’s S&P/ASX 200 index up 0.7 percent.The weak gains in Asian markets followed a choppy session on Wall Street that left major indexes treading water, hemmed in by anxiety ahead of corporate earnings and worries about a global economic slowdown, which capped gains from upbeat U.S. economic data.
Comments from U.S. Federal Reserve Vice Chairman Richard Clarida that the U.S. economy is in a “good place” but reemphasizing the Fed’s patience on rate hikes, also helped to reassure investors. Underscoring ongoing threats to the health of the global economy, IMF Deputy Managing Director Mitsuhiro Furusawa warned that a bigger-than-expected slowdown in China’s economy remains a key risk to global growth.
In currency markets, the dollar was up less than 0.1 percent against the yen at 111.73, while the euro gained 0.27 percent on the day to buy $1.1280.
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