Asian markets ended higher on Friday after China's commerce ministry said trade talks with the United States in Beijing were extensive and helped to establish a ‘foundation’ to resolve differences. Prospects for more Chinese stimulus to arrest the slowdown in growth and growing expectations that the US Federal Reserve will pause its rate tightening cycle this year also underpinned sentiment. Chinese and Hong Kong shares ended higher amid a strengthening yuan and mounting expectations that Beijing will roll out more stimulative policies. However, concerns about a slowing economy continued to weigh on investor sentiments. Further, Japanese stocks ended up, tracking strong US shares and overcoming falls by convenience stores which reported dismal quarterly earnings the previous day.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,553.83 | 18.73 | 0.74 |
Hang Seng | 26,667.27 | 145.84 | 0.55 |
Jakarta Composite | 6,361.46 | 32.75 | 0.52 |
KLSE Composite | 1,683.22 | 4.34 | 0.26 |
Nikkei 225 | 20,359.70 | 195.90 | 0.97 |
Straits Times | 3,198.65 | 15.14 | 0.48 |
KOSPI Composite | 2,075.57 | 12.29 | 0.60 |
Taiwan Weighted | 9,759.40 | 38.71 | 0.40 |
