Asian equity benchmarks are trading up in the early deals on Friday, tracking the rebound in Chinese stocks for a second day and on news that Greece has submitted a new bailout reform plan to its creditors in a last-ditch effort to save its economy as well as its place in the euro zone. The Japanese market is higher as surging China markets eased worries, but gains were capped by sharp losses in Fast Retailing Co on its weak domestic sales outlook for the current quarter. The Taiwan market is closed on Friday due to the approach of Typhoon Chan-hom.
Nikkei 225 jumped 41.68 points or 0.21% to 19,897.18, Hang Seng gained 517.49 points or 2.12% to 24,910.28, KOSPI Index rose by 1.05 points or 0.05% to 2,028.86, Straits Times surged 14.87 points or 0.46% to 3,282.27, Jakarta Composite increased 29.02 points or 0.60% to 4,867.31, Shanghai Composite added 191.56 points or 5.16% to 3,900.89 and FTSE Bursa Malaysia KLCI was up by 12.37 points or 0.73% to 1,713.91.
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