Sentiments turned bullish in the Asian region after three days of continuous downfall and stock markets in the Asian Pacific region ended on a higher note following rebound on Wall Street overnight. Barring, Seoul Composite all the Asian counters ended the day’s trade in the positive terrain, but gains were held in check as investors tread cautiously ahead of the release of Chinese first quarter economic growth figures on Friday, which are expected to confirm a slowdown this year. The Chinese government earlier this year cut its growth target for 2012 to 7.5 percent from the 8 percent level in place since 2005.
Meanwhile, Japanese Nikkei closed 0.70 percent higher despite concern over North Korea’s planned rocket launch, which has been met with a chorus of international protest while, Shanghai Composite surged over 1.80 percent as the World Bank’s downward revision of its forecast for China's 2012 economic growth heightened expectations of further monetary easing measures in the coming months. However, Seoul Composite edged lower in the trade to its fresh one-month low on Thursday as North Korea prepared to launch a long-range rocket in defiance of international warnings. The sentiments also weighed down by foreign selling as investors cashed in on blue-chips following a lengthy, earnings-backed rally with focus seen moving beyond first-quarter results.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,350.86 | 41.94 | 1.82 |
Hang Seng | 20,327.32 | 186.65 | 0.93 |
Jakarta Composite | 4,139.54 | 9.53 | 0.23 |
KLSE Composite | 1,601.27 | 4.10 | 0.26 |
Nikkei 225 | 9,524.79 | 66.05 | 0.70 |
Straits Times | 2,978.14 | 31.70 | 1.08 |
Seoul Composite | 1,986.63 | -7.78 | -0.39 |
Taiwan Weighted | 7,662.92 | 6.25 | 0.08 |
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