Asian markets calm at end of a tough week

Hong Kong

ASIAN markets were relatively calm on Friday at the end of a volatile week, with Shanghai and Hong Kong ticking higher after China unveiled a series of steps to shore up its economy, but fears of a US interest-rate hike kept dealers on edge.

Higher-yielding, or riskier, currencies such as the Malaysian ringgit and South Korean won benefited from a more upbeat outlook, which followed a positive lead from Wall Street, while the Australian dollar edged higher. The safe-haven yen, considered a go-to asset in times of turmoil, retreated.