Asian markets ended mostly higher on Friday on revived hopes of a Sino-US trade deal. White House economic adviser Larry Kudlow said that phase one of a trade deal between the world’s two largest economies was getting close, while Chinese Ministry of Commerce spokesman Gao Feng continued Beijing’s call for a removal of existing tariffs. Japanese shares ended higher as the safe-haven yen weakened. The sentiment also improved further after overnight data showed Japan’s final industrial production advanced 1.3% on an annual basis in September, compared to a fall of 4.7% in the previous month. Market participants and preliminary figures had indicated industrial production to register a rise of 1.1%. Though, Chinese shares closed lower, despite China's central bank unexpectedly adding liquidity to the banking system to help lenders through the tax season. Investors also ignored data showing that China's house prices logged a moderate growth in October.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,891.34 | -18.53 | -0.64 |
Hang Seng | 26,326.66 | 2.97 | 0.01 |
Jakarta Composite | 6,128.34 | 29.39 | 0.48 |
KLSE Composite | 1,594.75 | 1.20 | 0.08 |
Nikkei 225 | 23,303.32 | 161.77 | 0.70 |
Straits Times | 3,238.86 | 7.01 | 0.22 |
KOSPI Composite | 2,162.18 | 22.95 | 1.07 |
Taiwan Weighted | 11,525.60 | 75.18 | 0.66 |
