By Andrew Galbraith
SHANGHAI (Reuters) - Asian shares were higher on Friday following gains on Wall Street overnight, as concerns over an escalating U.S. trade war with China took a breather.
Australian shares <.AXJO> also gained 0.2 percent, while Japan's Nikkei stock index <.N225> was 1.2 percent higher.
The U.S. slapped import tariffs of 25 percent on $34 billion worth of Chinese goods on July 6, prompting a matching response from China.
But while China has vowed to retaliate to the new tariffs, the lack of a specific response to date has sparked a global relief rally.
On Thursday, the Dow Jones Industrial Average <.DJI> rose 0.91 percent to 24,924.89, the S&P 500 <.SPX> gained 0.87 percent to 2,798.29 and the Nasdaq Composite <.IXIC> added 1.39 percent to 7,823.92.
On Friday, S&P500 e-mini futures
"Some have suggested that Chinese officials are easing back their rhetoric with the intention of going back to the negotiation table, perhaps in light of increased concerns about economic impacts," ANZ analysts wrote in a note on Friday. "But it is not clear whether it is truly a change in tone or if the U.S. news was a surprise to China's economic team and a reaction is being prepared."
The dollar, which has been a safe haven amid global uncertainty over trade, touched 112.70 against the yen
The dollar index <.DXY>, which tracks the greenback against a basket of six major rivals, was up 0.1 percent at 94.868. The euro
(Reporting by Andrew Galbraith; Editing by Sam Holmes)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)