October 1, 2019 / 11:50 AM / 22 days ago

Asian shares post gains in September on trade hopes

Oct 1 (Reuters) - Asian shares posted their first monthly gain in three months in September as a softening of U.S.-China trade tensions and major central banks’ monetary easing measures averted fears about a global recession and lifted riskier assets such as Asian shares.

The MSCI’s broadest index of Asia-Pacific shares gained 2.13% in September after two successive months of decline. However, the index shed 2.29% for the quarter.

Last month, the United States and China agreed to hold high-level trade talks in early October, raising hopes that the two top global economies can de-escalate the tariff spat before it inflicts further damage on the global economy.

The U.S. Federal Reserve cut its policy rate for the second time this year, while the European Central Bank (ECB) also cut rates deeper into negative territory to revive an ailing euro zone economy.

In September, equities markets in Japan, South Korea and India were the best performers in the region, with each gaining over 4% for the month.

The losses were led by Indonesia and Philippines , both losing about 2.5% each.

Reporting by Gaurav Dogra and Patturaja Murugaboopathy Bengaluru; Editing by Chizu Nomiyama

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