Most of the Asian equity benchmarks traded higher in early deals on Friday, extending gains to second session in a row cheered with the hopes on global economic rebound amid the sudden jump of consumer price index of about 5% and improved US jobs data. Albeit, the worries over continued viral infection surge and the lockdown restrictions capped gains. Technological sector stocks and gold miners held high in the session, while financial and energy shares subdued. Japan’s Nikkei slightly higher after the government decided to lift the state of emergency in Olympics city Tokyo and downgrade it to quasi-emergency state in other prefectures after this weekend as infections steadily decline and the strain on hospitals eased. Meanwhile, Wallstreet rebounded in the session with the softer dollar and treasury yields dipped after consumer price index (CPI) showed a faster jump than expected. Rise in CPI is viewed as adjustments related to a reopening economy. The S&P 500 reached a new record closing high, while the major European markets turned in a mixed performance. Among the Asian markets, Japan, Singapore, Hong Kong, South Korea, and Taiwan are in advancing mode. Bucking the trend, China, Indonesia and Malaysia are in negative pace.
Nikkei 225 up by 20.90 points or 0.07% to 28,979.46, Straits Times jumped 0.39 points or 0.01% to 3,162.89, Hang Seng enlarged by 112.12 points or 0.39% to 28,851.00, KOSPI lifted 20.98 points or 0.65% to 3,245.62, Taiwan Weighted higher by 58.47 points or 0.34% to 17,217.69,
On the flip side, Jakarta Composite down by 3.33 points or 0.05% to 6,104.21, Shanghai Composite slipped by 9.04 points or 0.25% to 3,601.82 and FTSE Bursa Malaysia KLCI trimmed by 6.44 points 0.41% to 1,573.46.