Asian Stocks Poised for Weekly Gain as Recession Fears Dwindle

GLOBAL MARKET - SINGAPORE. Asian shares were headed for a weekly gain on Friday and Japan's benchmark Nikkei was poised for its best week in more than four years as upbeat risk sentiment spilled over from Wall Street, while the dollar and U.S. Treasury yields held broadly steady.

Last week's market turmoil calmed this week after a raft of U.S. economic data allayed recession fears in the world's largest economy and pushed back expectations for aggressive U.S. rate cuts.

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