Most of the Asian equity indices were trading in fine fettle in Friday’s morning session as investors went for the fundamentally strong but oversold stocks. However, the gains remain capped as caution prevailed after a volatile week that began with a broad sharp sell-off, as more soft US economic data and mixed US earnings results sustained worries over global growth.
Shanghai Composite surged 30.02 points or 1.37% to 2,227.62, Hang Seng increased 223.58 points or 1.04% to 21,736.10, Jakarta Composite rose 3.25 points or 0.06% to 5,015.88, Nikkei 225 strengthened 71.89 points or 0.54% to 13,291.96, KOSPI Composite added 4.12 points or 0.22% to 1,904.18 and Taiwan Weighted was up by 121.82 points or 1.56% to 7,913.17.
On the flip side, KLSE Composite declined 3.32 points or 0.19% to 1,702.94 and Straits Times was down by 1.62 points or 0.05% to 3,294.75.
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