Asian shares rebounded after three days of continuous decline as sentiment remained buoyed by new US data overnight, suggesting a steady recovery in the world’s largest economy. Japanese Nikkei has taken the lead as sentiment improved in Tokyo after the Japanese government upgraded its economic assessment for the third consecutive month, citing improvements in industrial output and corporate earnings. Some strength also came in after the Japan’s upper house confirmed Haruhiko Kuroda as governor of Bank of Japan. However, Seoul shares retreated on Friday, as Samsung Electronics slipped after the launch of its new smartphone, but losses were plugged by the rebound in auto shares which were buoyed by a weaker won.
Shanghai Composite surged 37.36 points or 1.65% to 2,307.64, Hang Seng strengthened 170.96 points or 0.76% to 22,790.14, Jakarta Composite soared 51.69 points or 1.08% to 4,838.05, Nikkei 225 jumped 150.75 points or 1.22% to 12,531.94, Straits Times added 17.15 points or 0.52% to 3,296.65 and Taiwan Weighted was up by 21.86 points or 0.27% to 7,973.62.
On the flip side, KLSE Composite declined 8.23 points or 0.50% to 1,637.99 and KOSPI Composite was down by 9.98 points or 0.50% to 1,992.15.
