Asian equity indices are rallying in early deals on Thursday, with investors indulging in some bargain hunting after recent steep losses. However, gains remained capped as there was some cautiousness ahead of the US non-farm payroll data on Friday. Japanese stocks bounced after skidding to four-month low this week. Among other markets in the Asia-Pacific region, South Korea, Singapore and Hong Kong are trading notably higher, while Malaysia is up marginally. Chinese Shanghai Composite remained closed on account of Lunar New Year.
Hang Seng rose 109.05 points or 0.51% to 21,378.43, Jakarta Composite increased 12.87 points or 0.29% to 4,397.18, KLSE Composite jumped 3.58 points or 0.20% to 1,789.46, Nikkei 225 strengthened 36.30 points or 0.26% to 14,216.68, Straits Times surged 28.64 points or 0.97% to 2,988.73, Seoul Composite added 14.46 points or 0.76% to 1,905.78 and Taiwan Weighted was up by 49.42 points or 0.60% to 8,313.90.