Asian markets traded mostly in green in early deals on Friday, mirroring positive trend in Wall Street overnight as the encouraging weekly US jobs data trivialized recession fears. Hang Seng advanced for the third consecutive session as China’s consumer rates rose by 0.5% yoy in July, topping estimates of 0.3% amid efforts from Beijing to spur consumption. Bucking the trend Japan’s Nikkei retreated after rallying around 1.6% in earlier deals, as Bank of Japan officials signalled more interest rate hikes. Stock market of Singapore is closed for National day holiday.
Hang Seng lifted by 299.60 points or 1.74% to 17,191.43, KOSPI Index rose by 21.48 points or 0.84% to 2,578.21, Jakarta Composite climbed by 42.13 points or 0.58% to 7,237.25, Taiwan Weighted soared by 692.55 points or 3.32% to 21,562.65, Shanghai Composite up by 3.57 points or 0.12% to 2,873.47, and FTSE Bursa Malaysia KLCI added by 8.96 points or 0.56% to 1,599.34
On the flip side, Nikkei 225 down by 180.01 points 0.52% to 34,651.14.
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