China stocks closed higher Friday as investors cheered Beijing opening up its financial markets further to foreign investors.
China finalised rules Thursday that scrap quotas under 2 major inbound investment programs, giving qualified foreign institutions unlimited access to Chinese stocks and bonds.
At the close, the Shanghai Composite index was up 0.83% at 2,895.34 and the blue-chip CSI300 index rose 1%. On the week, SSEC gained 1.2%, while CSI300 was up 1.3%.
The smaller Shenzhen index finished up 1.17% and the start-up board ChiNext Composite index was higher by 0.873%.
Australian stocks ended higher Friday, marking their 2nd straight weekly gainer, after the government unveiled plans to end most C-19 coronavirus chaos restrictions by July and as talks between US and Chinese trade officials lifted sentiment.
The S&P/ASX 200 index settled 0.5% higher at 5,391.1. The benchmark rose nearly 3% on the week, its biggest weekly gainer since 10 April.
New Zealand’s benchmark S&P/NZX 50 index finished 0.4% higher at 10,695.59. The New Zealand benchmark rose about 2.4% on the week, its 2nd straight weekly rise.
Japanese shares advanced Friday, in line with Wall Street’s gains, as news of Top trade representatives of China and the United States holding talks calmed investors worried about simmering tensions, with cyclicals leading the rally.
The benchmark Nikkei average climbed 2.6% to a 1-wk closing high of 20,179.09. The index was up 2.9%, rising for a 2nd wk running, although there were just 2 trading days this week due to public holidays.
The broader Topix gained 2.2% to 1,458.28, with all but 1 of the 33 sector sub-indexes on the Tokyo exchange finishing in the Green.
Most Southeast Asian stock markets rose Friday as investors focused on talks between US and Chinese trade officials and after some countries showed progress in plans to reopen their coronavirus-hit economies.
Malaysian stocks rose 0.9% and led gains in the region ahead of March industrial production data.
Thai shares advanced 0.7%, with energy stocks lending support. The benchmark was set to lose about 2.8% for the week, after 5 straight wks of gains
Philippine stocks traded largely in the Red, a day after reporting an unexpected slowdown in Q-1 economic growth.
Data as of 8 May 2020. All quotes delayed at least 15 mins.
|.TRXFLDJPP||Thomson Reuters Equity Japan Index||3:38am EDT||128.02||+2.86||+2.29%|
|.TRXFLDHKP||Thomson Reuters Equity HK Index||4:05am EDT||277.47||+4.22||+1.54%|
|.TRXFLDINP||Thomson Reuters Equity India Index||4:05am EDT||1,062.80||+12.94||+1.23%|
|.N225||Nikkei Stock Average 225||2:15am EDT||20,179.09||+504.32||+2.56%|
|.HSI||Hang Seng Index||4:08am EDT||24,230.17||+249.54||+1.04%|
|.AORD||ASX All Ordinaries Index||3:01am EDT||5,488.00||+38.10||+0.70%|
|.KS11||KOSPI Index||2:30am EDT||1,945.82||+17.21||+0.89%|
|.SETI||SET Composite Index||4:20am EDT||1,263.38||+5.40||+0.43%|
|.JKSE||Jakarta Composite||4:14am EDT||4,597.43||-11.36||-0.25%|
|.PSI||PSE Composite Index||12:50am EDT||5,621.94||-31.22||-0.55%|
|.SSEC||Shanghai Composite Index||3:59am EDT||2,895.34||+23.82||+0.83%|
|.BSESN||S&P BSE Sensex||4:21am EDT||31,778.93||+335.55||+1.07%|
|.FTFBMKLCI||FTSE Bursa Malaysia KLCI||4:21am EDT||1,385.39||+8.46||+0.61%|
|.HNX30||HNX 30 Index||6 May 2020||207.56||+3.42||+1.68%|
Have a healthy weekend, Keep the Faith!