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Asian markets close mostly in green on Friday

09 Mar 2018 Evaluate

Asian markets closed mostly in green on Friday as geopolitical tensions eased and investors heaved a sigh of relief that US trade tariffs were less severe than traders had originally feared. Geopolitical tensions eased after North Korean leader Kim Jong Un had offered to halt nuclear and missile tests and expressed his desire to meet with US President Donald Trump through South Korean national security adviser Chung Eui-yong. Separately, the White House slapped import tariffs of 25 percent on steel and 10 percent for aluminum but exempted Canada and Mexico and offered the possibility of excluding other allies, backtracking from an earlier ‘no-exceptions’ stance. Chinese shares ended higher after official data showed China's inflation rose sharply to the highest level in more than four years in February, driven by a rebound in food prices. At the same time, producer price inflation slowed to a 15-month low. Consumer price inflation rose to 2.9 percent in February from 1.5 percent in January, the National Bureau of Statistics reported. This was the highest since November 2013. Producer price inflation weakened to 3.7 percent in February from 4.3 percent a month ago. Further, Japanese shares closed higher after the Bank of Japan kept rates unchanged and offered no clues on when it would wind down stimulus measures. Also, trade worries subsided and geopolitical tensions eased, helping buoy investors’ sentiments ahead of the US February jobs report due later in the day.

Asian Indices

Last Trade           

Change in Points

Change in %

Shanghai Composite

3,307.17

18.76

0.57

Hang Seng

30,996.21

341.69

1.11

Jakarta Composite

6,433.32

-9.70

-0.15

KLSE Composite

1,843.92

4.30

0.23

Nikkei 225

21,469.20

101.13

0.47

Straits Times

3,485.57

5.13

0.15

KOSPI Composite

2,459.45

26.37

1.08

Taiwan Weighted

10,864.82

41.58

0.38

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