Asian shares turn positive as emerging markets calm
Asian shares are seeing a modest advance as investors look to the European Central Bank (ECB) and US jobs numbers to provide stability in the wake of recent turbulence in emerging markets.
The ECB is is expected to maintain its current monetary stance but many investors would be pleasantly surprised if the bank took easing measures to head off the deflationary threat.
However, with interest rates still at rock-bottom lows of 0.25 per cent there appears to be little room for manoeuvre.
Respite in emerging markets such as Turkey and South Africa have helped ease the turmoil seen in recent days.
Japan's Nikkei is up 0.2 per cent after falling to four-month lows earlier in the week. Hong Kong's Hang Seng Index is up by 0.2 per cent, ending a three-day losing streak. South Korea's Kospi index is also up for the second day running, enjoying a 0.8 per cent gain.