Asian shares edge up, poised for weekly rise
By Lisa Twaronite
Conciliatory comments from Russian President Vladimir Putin on Thursday soothed some fears, although investors warily monitored the situation onUkraine border. Dozens of heavy Russian military vehicles massed there as Moscow and Kiev struggled to agree on border crossing procedures for humanitarian aid.
"When it comes to news, at least economic, bad news has resumed its good connotations. Fears of a European recession and deflationary slump have been welcomed by markets now that the case for quantitative easing looks irrepressible," Jonathan Sudaria, a dealer at Capital Spreads, said in a note to clients on Friday.
Some strategists said that the Japanese market's underperformance this year compared to other major markets is likely to make it appear as an attractive value play, particularly given the prospect of increased buying from the $1.2 trillion Government Pension Investment Fund. The fund is expected to announce more allocations to domestic stocks later this year.
The euro last traded at $1.3365, steady on the day but not far from last week's nine-month low of $1.3333. It inched higher against the yen to 137.06.
The greenback edged up about 0.1 percent to 102.52 yen.
In commodities trading, U.S. crude steadied at $95.58 a barrel after losing more than $2 in U.S. trade.
Spot gold was steady at $1,312.80 an ounce, after closing little changed in the previous session. The metal has gained 0.2 percent this week.
(Additional reporting by Ayai Tomisawa in Tokyo; Editing by Shri Navaratnam)