Most of the Asian markets traded in green in early deals on Friday, as the market sentiments got boosted after larger than expected US jobless claims bolstered bets on pause in Fed interest rate hikes. The US unemployment claims surged to an over 1-1/2 -year high last week. Additionally, sharp correction in Treasury bond yields boosted technology and other growth stock investment appeal. Japan’s Nikkei recouped after two consecutive sessional losses, supported by positive global indices overnight. Moreover, weaker local currency yen also attracted more investments in export oriented stocks.
Nikkei 225 up 560.24 points or 1.77% to 32,201.51, Hang Seng buoyed by 53.41 points or 0.28% to 19,352.59, Taiwan higher by 143.78 points or 0.86% to 16,877.47, KOSPI buoyed by 24.29 points or 0.93% to 2,635.14, Shanghai widened by 0.82 points or 0.03% to 3,214.41, and FTSE Bursa Malaysia KLCI added by 0.85 points or 0.06% to 1,375.49.
On the flip side, Straight times down by 0.91 points or 0.03 to 3,185.70, Jakarta Composite dipped 0.41 points or 0.01% to 6,665.92.
