Most of the Asian markets rose Friday amid investor hopes that the stimulus measures announced this month by policymakers around the world will be able to bolster the global economic growth.
The Chinese Shanghai Composite rose 0.45 percent or 9.09 points to 2033.93. Hong Kong's Hang Seng was up 0.81 percent or 166.50 points to 20757.42. Among the major gainers were China Mobile Ltd (1.83 percent) and COSCO Pacific Ltd (1.87 percent).
South Korea’s KOSPI Composite Index rose 0.51 percent or 10.14 points to 2000.47. Shares of Samsung Electronics Co Ltd advanced 1.32 percent and those of Binggrae Co Ltd climbed 7.77 percent.
Japan's Nikkei Stock Average was up 0.61 percent or 55.31 points to 9142.29. Among the major gainers were Sharp Corp (5.45 percent), Japan Tobacco Inc (3.30 percent) and OKUMA Corp (2.23 percent).
India's BSE Sensex gained 0.66 percent or 120.48 points to 18469.73. Among the major losers were Reliance Capital (1.65 percent), Sesa Goa (0.67 percent) and ICICI Bank (0.64 percent).
The optimism about the easing measures announced by the central banks has undermined the concerns about the debt crisis affecting the euro zone. Following the European Central Bank and the U.S. Federal Reserve’s moves in easing, the Bank of Japan joined the stimulus bloc this week by expanding its asset purchase program.
The coordinated easing measures by the major global central banks have provided a welcome boost to the market confidence.
Meanwhile, the euro zone flash Purchasing Managers’ Index (PMI) indices continue to remain low due to the lack of external traction and the strong constraints on the domestic demand. The decline in the headline index from 46.3 in August to 45.9 in September, its lowest level in over three years, was worse than the consensus expectation of an increase to 46.6. On a whole, there is little to alter the view that the euro zone recession looks set to deepen in the latter part of the year.
There is also a hope that China will soon announce stimulus measures after the HSBC flash manufacturing PMI announced Thursday showed that the country’s economy was not recovering.
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