Most Asian markets closed higher on Friday, boosted by overnight gains on Wall Street and US growth numbers showing the world's biggest economy was growing faster than earlier reported.
Tokyo's NIKKEI Stock Average of 225 selected issues rose 164.39 points, or 1.49 percent, to close at 11,192.33 points. The index gained 13.51 points, or 0.12 percent, on Thursday.
Japanese stocks rose on the back of strong trading on Wall Street, where the Dow Jones industrial average gained 0.76 percent and the NASDAQ composite index rose 1.03 percent. The rise prompted buying of technology and export-related issues in Japan.
Hong Kong shares ended higher on the back of an overnight rise on Wall Street and positive responses toward upcoming big initial public offerings.
The blue-chip Hang Seng Index closed up 144.79 points, or 1.07 percent, at 13,714.78 after trading between 13,669.20 and 13,739.20 during the session.
Taiwanese share prices are expected to rise further next week amid foreign interest ahead of Morgan Stanley Capital International's (MSCI's) increase in its Taiwan weighting, dealers said on Friday.
The Financial Supervisory Commission's statement that it has not started studying the feasibility of dividing the stock market trading hours into morning and afternoon sessions will also help boost sentiment, they said.
Securities traders and retailers were not welcoming the prospect of lengthier trading sessions, and were concerned about having to deal with a possible increase in price volatility.
For the week to Friday, the TAIEX gained 36.86 points or 0.62 percent to 5,991.55, following a 0.45 percent decline the previous week.
Average daily turnover stood at NT$55.92 billion (US$1.78 billion), down from NT$62 billion last week.
"The MSCI effects will be at its highest next week as continued foreign interests are likely to bring in more domestic funds as well," said Daniel Tseng (
The MSCI indices are closely followed, especially by institutional investors, so any changes can result in significant fund flows.
"It will be a critical time for share prices to reach the 6,000-point level with a chance of going up to 6,100 points," he said.
Tseng said electronics will continue to lead the market due to an anticipated strong performance by the stocks' US counterparts.
Indian shares ended higher for the seventh straight session, fueled by gains in leading consumer goods shares. The Bombay Stock Exchange's 30-share Sensitive Index, or SENSEX, ended up 36.94 points, or 0.6 percent.
Indonesian shares ended higher, led by gains in automotive company Astra International and food producer Indofood Sukses Makmur. The Jakarta Stock Exchange Composite Index ended up 7.134 points, or 0.7 percent, at 1061.495.
Malaysian shares ended slightly up on bargain-hunting in blue chips ahead of the weekend. The weighted Composite Index of 100 blue-chip stocks closed up 2.01 points, or 0.2 percent, at 869.11.
Philippine shares snapped a five-day losing streak after Fitch Ratings Ltd upgraded its outlook for the country's credit ratings, and growth forecasts for the US economy were revised upward. The 30-company Philippine Stock Exchange Index closed up 16.69 points, or 0.9 percent, at 1,875.41.
South Korean shares ended higher on advances in technology shares and program buying which boosted most large-capitalization issues. The Korea Composite Stock Price Index, or Kospi, rose 17 points, or 1.8 percent, to 960.91, the highest level since the index hit 981.31 on April 13.
Shares in China fell as doubts over the benefits to investors of the government's trial reform of nontradable shares dented market confidence. The Shanghai Composite Index, which tracks both A and B shares, ended down 6.92 points, or 0.7 percent, at 1051.95.
Singapore shares closed slightly higher with sentiment boosted by Wall Street's overnight gains and the US first-quarter GDP numbers. The Straits Times Index rose 2.14 points, or 0.1 percent, to 2154.70.
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