Most of the Asian equity benchmarks are trading up in the early deals on Friday following the modest gains overnight on Wall Street amid optimism about US tax reforms and as higher metals prices boosted mining stocks. Investors are cautious as they digest a raft of regional economic data. Some of the markets, including China and South Korea, will be shut for public holidays next week. Though, Japan’s Nikkei share average edged down but was on track for a solid monthly gain, buoyed by a weaker yen. Among the other Asian markets, Shanghai, South Korea, Malaysia, Hong Kong, Indonesia, and Taiwan are all higher. Bucking the trend, Singapore is lower.
Hang Seng added 91.05 points or 0.33% to 27,512.65, Jakarta Composite gained 48.38 points or 0.83% to 5,889.43, Shanghai Composite strengthened 8.5 points or 0.25% to 3,348.14, Taiwan Weighted rose 29.37 points or 0.29% to 10,325.82, KOSPI Index increased 16.44 points or 0.69% to 2,389.58, and FTSE Bursa Malaysia KLCI was up by 0.76 points or 0.04% to 1,758.82.
On the flip side, Nikkei 225 slipped 3.02 points or 0.01% to 20,360.09, and Straits Times was down by 17.72 points or 0.55% to 3,209.42.