Asian shares rose on Friday, led by a surge in Chinese equities, on hopes that Washington and Beijing are making progress in trade talks, while global bond yields moved higher after a prolonged slide on worries about the economic outlook.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.5 per cent while Japan's Nikkei, a stock market index for the Tokyo Stock Exchange, added 1 per cent. MSCI is a global provider of equity, fixed income and multi-asset portfolio analysis tools.
The Shanghai Composite Index climbed more than 2 per cent.
The mood in the markets was brighter after US officials said China has made proposals in trade talks with the US on a range of issues that go further than it has before, including on forced technology transfer.
US treasury secretary Steven Mnuchin said on Friday he had a “productive working dinner” the previous night in Beijing, kicking off a day of talks aimed at resolving the bitter trade dispute between the world's two largest economies.
Gains on Wall Street also bolstered investor optimism. The S&P 500 on Thursday rose 0.36 per cent and the Nasdaq Composite added 0.34 per cent.
Despite recent turbulence, the S&P 500 - an American stock market index - has gained 12.3 per cent so far this quarter, which would mark its best quarterly performance since 2009, if sustained.
In the currency market, the euro stood steady at $1.1228 after having slid to a three-week low of $1.1214 as speculation grew that the European Central Bank will introduce a tiered deposit rate.
The Turkish lira tended 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.
MATCH INFO
Champions League quarter-final, first leg
Tottenham Hotspur v Manchester City, Tuesday, 11pm (UAE)
Matches can be watched on BeIN Sports
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
The biog
Hometown: Cairo
Age: 37
Favourite TV series: The Handmaid’s Tale, Black Mirror
Favourite anime series: Death Note, One Piece and Hellsing
Favourite book: Designing Brand Identity, Fifth Edition
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
While you're here
Mina Al-Oraibi: Invasion of Kuwait 30 years on: 'Our lives changed forever'
David Mack: Thirty years on from invasion of Kuwait, what have we learnt?
Mina Aldroubi: Rebuilding Iraq-Kuwait relations an ‘evolutionary' process
Sly%20Cooper%20and%20the%20Thievius%20Raccoonus
Januzaj's club record
Manchester United 50 appearances, 5 goals
Borussia Dortmund (loan) 6 appearances, 0 goals
Sunderland (loan) 25 appearances, 0 goals
While you're here
Con Coughlin: To survive, Nato must renew its sense of common purpose
Gavin Esler: Nato summit failed for making news more than it made deals
Simon Waldman: Nato continues to be Ankara’s best security guarantor
KEY%20DATES%20IN%20AMAZON'S%20HISTORY
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants
On Women's Day
Dr Nawal Al-Hosany: Why more women should be on the frontlines of climate action
Shelina Janmohamed: Why shouldn't a spouse be compensated fairly for housework?
Samar Elmnhrawy: How companies in the Middle East can catch up on gender equality
Justin Thomas: Challenge the notion that 'men are from Mars, women are from Venus'
Dhadak
Director: Shashank Khaitan
Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana
Stars: 3
More about Middle East geopolitics
While you're here
On Women's Day
Dr Nawal Al-Hosany: Why more women should be on the frontlines of climate action
Shelina Janmohamed: Why shouldn't a spouse be compensated fairly for housework?
Justin Thomas: Challenge the notion that 'men are from Mars, women are from Venus'
The National Editorial: Is there much to celebrate on International Women's Day 2021?
All%20The%20Light%20We%20Cannot%20See%20
25%20Days%20to%20Aden
You might also like
Company Profile
Founder: Omar Onsi
Launched: 2018
Employees: 35
Financing stage: Seed round ($12 million)
Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners
Virtuzone GCC Sixes
Date and venue Friday and Saturday, ICC Academy, Dubai Sports City
Time Matches start at 9am
Groups
A Blighty Ducks, Darjeeling Colts, Darjeeling Social, Dubai Wombats; B Darjeeling Veterans, Kuwait Casuals, Loose Cannons, Savannah Lions; C Awali Taverners, Darjeeling, Dromedary, Darjeeling Good Eggs
Last five meetings
2013: South Korea 0-2 Brazil
2002: South Korea 2-3 Brazil
1999: South Korea 1-0 Brazil
1997: South Korea 1-2 Brazil
1995: South Korea 0-1 Brazil
Note: All friendlies
While you're here
Sulaiman Hakemy: Why it's important to lose elections
Rashmee Roshan Lall: US race relations in three words
Michael Goldfarb: First debate marks the end of an era
