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Asian markets trade mostly higher in early deals on Friday

02 Jun 2023 Evaluate

Most of the Asian markets traded higher in early deals on Friday, as the investor sentiments got buoyed after the US debt ceiling bill was passed by the House of Representatives by a wide margin. The US Senate is to vote on the bill later in the day and President Joe Biden will sign it into law. Moreover, intensified bets over Federal Reserve halting interest rate hike followed by signs on subdued US wage inflation also lifted the Asian indices further. Japan’s Nikkei advanced in the session mirroring positive international cues and as exporters picked up with the weaker local currency yen. Stock markets of Indonesia and Singapore are closed for Vesak Day holiday. 

Nikkei 225 up 298.52 points or 0.96% to 31,446.53, Hang Seng enlarged by 666.31 points or 3.53% to 18,883.22, Taiwan widened by 228.55 points or 1.38% to 16,741.20, KOSPI added by 26.72 points or 1.04% to 2,595.89 and Shanghai buoyed by 24.43 points or 0.76% to 3,229.06.

On the flip side, FTSE Bursa Malaysia KLCI narrowed by 4.76 points or 0.34% to 1,378.25.

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