Asian shares advanced on Friday after China reported that its economy expanded at an 18 percent annual pace in the first quarter of this year.
However, jubilance over positive Chinese and US economic data and another record high on Wall Street was tempered by caution over COVID-19 outbreaks in the region, where rollouts of the vaccine have lagged.
The TAIEX rose 0.48 percent to 17,158.81, taking its weekly gain to 1.8 percent.
Japan’s benchmark Nikkei 225 index on Friday gained 0.1 percent to finish at 29,683.37, but fell 0.3 percent for the week. The TOPIX on Friday inched up less than 0.1 percent to close at 1,960.87, virtually unchanged for the week.
Australia’s S&P/ASX 200 on Friday recouped earlier losses, rising 0.1 percent to 7,063.50, adding 1 percent for the week.
South Korea’s KOSPI on Friday added 0.13 percent to 3,198.62, taking its weekly gain to 2.13 percent.
Hong Kong’s Hang Seng on Friday added 0.6 percent to 28,969.71, up 0.9 percent weekly, while the Shanghai Composite Index gained 0.8 percent to 3,426.62, down 0.7 percent for the week.
India’s SENSEX rose by less than 0.1 percent to 48,832.03, falling 1.5 percent for the week. The NIFTY 50 added 0.25 percent 14,617.85, but was down 1.46 percent for the week.
The contrast between the speed of vaccine rollouts in the US and Asia has been striking. Nearly half of American adults have gotten at least one dose of the vaccine, and about 30 percent of adults in the US have been fully vaccinated, according to the US Centers for Disease Control and Prevention.
Japan, where inoculations for the public have barely started, has seen a resurgence of infections in the past few weeks. The western metropolis of Osaka reported more than 1,200 new infections on Thursday, its highest since the pandemic began.
A top ruling party official suggested the possibility of canceling the Tokyo Olympics, set to start in July, if infections continue to surge.
“Nikkei 225 also lacked firm direction amid an indecisive FX trade, and as Japan considers stricter COVID-19 measures for areas surrounding Tokyo,” ActivTrades analyst Anderson Alvez said.
Additional reporting by Bloomberg, with staff writer
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