Asian Shares Rise As Lawmakers Vote To Delay Brexit

Asian stocks were mostly higher on Friday after U.K. lawmakers overwhelmingly backed a government motion on Thursday to ask for a three-month delay for Britain’s departure from the European Union, helping ease worries over a disorderly Brexit.

The upside, however, remained limited amid a fresh flare up in U.S.-China trade concerns after U.S. President Donald Trump said he was in no rush to complete a trade pact with China.

China’s Shanghai Composite index was climbing 1.3 percent on hopes of more policy support for the slowing economy. Hong Kong’s Hang Seng index was up 1.2 percent.

Japan’s Nikkei index was up over 1 percent after the Bank of Japan kept its monetary policy steady, as widely expected, and offered a relatively weak assessment of the Japanese economy.

The yen dipped, helping lift exporters. Chipmakers also surged after Broadcom Inc posted better-than-expected first-quarter profit and revenue.

South Korea’s Kospi average was rallying 1.1 percent while benchmark indexes in Australia and New Zealand were marginally higher.

Overnight, U.S. stocks ended mixed amid reports that a meeting between President Donald Trump and Chinese President Xi Jinping has been pushed back until at least April.

The report from Bloomberg came after Trump told reporters on Wednesday that he is in “no rush” to complete a trade deal with China.

The Dow inched up marginally, while the tech-heavy Nasdaq Composite slid 0.2 percent and the S&P 500 slipped 0.1 percent.

European markets rose on Thursday as investors tracked developments on the Brexit front.

The pan European Stoxx 600 added 0.8 percent. The German DAX edged up 0.1 percent, while France’s CAC 40 index advanced 0.8 percent and the U.K.’s FTSE 100 gained 0.4 percent.

The dollar held overnight gains while oil fell slightly to hover near a four-month high reached on Thursday.

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