Asia stocks turn positive for year

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Asian shares edged higher on Friday, turning positive for the year, while the US dollar weakened broadly after the Federal Reserve's cautious stance on further rate increases prompted investors to rebuild their bets on riskier assets. 

 

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6 percent in early trade, entering positive territory for the year for the first time during Asian hours. 

 

That echoed a recovery on Wall Street, where the S&P 500 Index gained 0.66 percent to close at its highest since December 31, led by the materials and energy sectors.

 

 Japanese shares bucked the trend as the dollar's fall against the yen is seen hurting the country's exporters, with the Nikkei dipping 0.4 percent.