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Asian markets trade mostly higher in early deals

03 May 2013 Evaluate

Asian markets are trading mostly higher in Friday’s morning session with most of the regional indices in the green terrain for the first time in last three days after an interest rate cut from the European Central Bank (ECB) and prospects for more easing lifted hopes that fresh stimulus from yet another major central bank will help foster a stronger global recovery. The ECB’s decision came a day after the Federal Reserve recommitted to its aggressive stimulus programme and a month after the Bank of Japan stunned markets by promising to inject about $1.4 trillion into the economy to spur growth.

Shanghai Composite surged 39.37 points or 1.81% to 2,213.49, Hang Seng rose 155.40 points or 0.69% to 22,823.70, KOSPI Composite increased 2.35 points or 0.12% to 1,959.56 and Taiwan Weighted was up by 13.34 points or 0.16% to 8,141.85.

On the flip side, Jakarta Composite declined 38.23 points or 0.77% to 4,955.82, KLSE Composite dropped 13.81 points or 0.81% to 1,699.65 and Straits Times was down by 25.09 points or 0.74% to 3,377.30.

Japanese Nikkei remained shut for the trade today.

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