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Asian stocks inch higher on hopes of progress in US-China talks

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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 ...

TOKYO: 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. "The economy is softening and will soften for now. But whether the U.S. is entering a recession is still debatable," said Mutsumi Kagawa, chief global strategist at Rakuten Securities.

Another severe move was seen in palladium, which dropped 6.6 percent on Thursday and has lost one-sixth of its value from last week's peak on concerns that an economic slowdown could dent demand.

 

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