Dec 2 (Reuters) - Asian shares eked out gains in November as
hopes of a global economic recovery outweighed a cautious tone
surrounding uncertainties about the U.S.-China interim trade
deal.
The MSCI's broadest index of Asia-Pacific shares
.MIAP00000PUS gained 0.4% in November, its third successive
monthly rise.
The U.S.-China trade deal that Washington and Beijing hoped
of signing by the mid of last month, was saddled by a lack of
agreement on tariffs' rollback and on a new U.S. law that backed
Hong Kong protesters. Last month, regional gains were lead by New Zealand shares
.NZ50 , which surged 4.9%, on improving outlook for local
businesses. "The significant easing in both interest rates and the
exchange rate is clearly working its way through the economy,
and the remarkable resilience of New Zealand's commodity prices
is providing an invaluable buffer to the world's woes," ANZ Bank
said in a report last month.
Australia .AORD and Japan .N225 stocks also topped
regional shares last month with 2.6% and 1.6% in monthly gains.
Economic data from the United States and Asian markets
released during November, showed signs of recovery in global
economic growth and supported regional shares last month.
The U.S. economy grew at a 2.1% annualised rate in the third
quarter, up from 2.0% growth in the second quarter. China's
factory activity for November also showed an expansion with a
PMI reading of 51.8, the quickest pace since December 2016.
September losses were lead by Indonesia .JKSE and
Philippines .PSI shares, both losing about 3% or more.
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Asia Pacific 2019 price performance https://tmsnrt.rs/2DGSBQh
Asia Nov price performance https://tmsnrt.rs/34BwG9b
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