Asian equity indices are trading in fine fettle in Friday’s morning session with major gauges gaining strength after a flat start as investors opted to pile up positions in beaten down but fundamentally strong stocks. Meanwhile, recovering from their initial losses, Japanese Nikkei turned positive as investors resumed buying risky assets after data showed on May 16, 2013 that Japanese economy grew 0.9% in the first quarter, speeding up from a 0.3% pace in the previous quarter and beating expectations for a growth rate of 0.7%.
Shanghai Composite rose 2.95 points or 0.13% to 2,254.75, Jakarta Composite surged 29.06 points or 0.57% to 5,107.74, KLSE Composite increased 1.59 points or 0.09% to 1,768.31, Nikkei 225 added 37.27 points or 0.25% to 15,074.51 and Taiwan Weighted was up by 3.73 points or 0.04% to 8,393.78.
On the flip side, Straits Times was down by 2.85 points or 0.08% to 3,449.43.
Markets in Hong Kong and South Korea are closed for holidays.
