Most of the Asian equity benchmarks traded higher in early deals on Friday, cheered with the positive trend in US stocks overnight amid optimism over faster global economic recovery followed by the news that the $1.9 trillion coronavirus relief package got its final seal from President Joe Biden to become a law, paving the way for an economic recovery. Better than expected job data also boosted the market sentiments. Technological and oil shares are the top gainers in the session. Japan’s Nikkei is extending its gains for the fourth straight session with the optimism about global recovery and as weaker yen currency also boosted some investments in the market. Among the other Asian markets, Singapore, Taiwan, Indonesia, South Korea, and China are in green. Bucking the trend, Hong Kong, and Malaysia on lower note.
Nikkei 225 up by 470.84 points or 1.61% to 29,682.48, Straits Times rose by 3.56 points or 0.11% to 3,109.57, KOSPI Index increased 41.40 points or 1.37% to 3,055.10, Taiwan Weighted widened 42.80 points or 0.26% to 16,222.36, Jakarta Composite enlarged by 76.72 points or 1.22% to 6,341.40,and Shanghai Composite rose by 7.63 points or 0.22% to 3,444.46
On the flip side, Hang Seng down by 90.88 points or 0.31% to 29,294.73, and FTSE Bursa Malaysia KLCI lower by 9.53 points 0.58% to 1,619.88