SYDNEY (Reuters) - Asian shares crept ahead on Thursday as a lull in the Sino-U.S. trade tussle and talk of more Chinese stimulus helped calm nerves, while tensions in the oil market grew ahead of an OPEC meeting that could expand the supply of crude.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS gained 0.4 percent, while Japan's Nikkei .N225 added 0.7 percent.
Australia’s main index had another strong day, rising 1 percent on fund manager demand before the end of the local financial year next week.
Futures for the S&P 500 ESc1 added 0.4 percent as investors waited for new developments on global trade. After a hesitant start, Chinese markets moved into positive territory as Shanghai blue chips rose 0.6 percent .CSI300.
The mere absence of new threats from President Donald Trump on tariffs was enough to stem recent selling, with investors clinging to the hope that all the bluster was a ploy which would stop short of an outright trade war.
“Many participants see the Trump Administration’s hard line as part of the negotiating strategy,” said Richard Grace, chief currency strategist at CBA.
Markets had also been encouraged by the People’s Bank of China’s move to set firm fixings for its yuan, along with the addition of extra liquidity.
There was also much speculation the central bank would cut bank
