The Traderszone Network

Investors were finding it difficult to take strong positions ahead of a slew of U.S. economic data from an index of U.S.

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Australia has been hit by falling commodity prices, slowing growth, and weakness in key trading partners like China.

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Asian shares inched higher on Friday but were still set to post a loss for the month, while the dollar edged away from highs scaled after U.S. GDP data reinforced expectations that the Federal Reserve is likely to raise interest rates this year. MSCI’s broadest index of Asia-Pacific shares outside Japan was up about 0.2 percent at 3:02 GMT, but recorded a loss of 5.9 percent for the month. Japan’s Nikkei stock index (.N225) was little changed, but saw a gain of 1.4 percent for July, the only Asian market ending the month in positive territory – excluding Australia and New Zealand.

The U.S. Federal Reserve will not need to see balanced risks to the economy to proceed with an interest rate hike in September, according to former Fed officials and a review of central bank statements through recent turns in policy. In its latest statement, released Wednesday, the Fed said it continued to judge the risks to the U.S. economy as “nearly balanced,” meaning it still sees a greater threat of a new downturn than it does of accelerating inflation and excessive growth.

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LinkedIn’s shares were down 3.9 percent in after-hours trading, however, as investors focused on the company’s widening losses and an underwhelming full-year revenue forecast. LinkedIn has been spending heavily to acquire businesses and build up its sales and development teams in an effort to leverage off its 380 million members. LinkedIn said it now expected the business to contribute about $90 million to 2015 revenue – more than double its original forecast.

Pacific Rim trade ministers neared the final spurt of negotiations on an ambitious free trade pact on Thursday, but differences over farm exports and monopoly periods for next-generation drugs kept them short of an elusive final deal. Ministers from the 12 countries negotiating the Trans-Pacific Partnership (TPP), which would cut trade barriers and set common standards for 40 percent of the world economy, are meeting in Hawaii to try to hammer out a deal. The United States is pushing for 12 years but Australia and other countries worried about the impact on medicine prices want five.

China’s securities regulator on Friday said it is investigating the impact of automated trading on the market, as Beijing intensifies pressure on its financial industry in the wake of a share-price plunge. The China Securities Regulatory Commission (CSRC), in an announcement on its official microblog, also said it had restricted 24 stock trading accounts for suspected irregularities, including abnormal bids for shares and bid cancellations that might have impacted wider market performance.

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