Asian stocks outside of Japan advanced on the last trading day of the week, drawing support from a stronger finish on Wall Street overnight and as China’s consumer inflation held steady in March.
Japan’s Nikkei 225 index crossed the 20,000 milestone for the first time since April 2000 at the open, but quickly pulled back seemingly on the back of profit-taking and as the dollar-yen ticked down slightly to 120.46.
China’s Shanghai Composite index inched up 0.2 percent, reversing a lower open, as latest inflation data signalled a favorable environment for further government stimulus.
In Hong Kong, the Hang Seng index appear set to chalk up a three-day long blistering rally, up 1 percent at the open and hitting its highest level since January 2008. Meanwhile, the Hang Seng China Enterprises Index of Hong Kong-listed mainland companies jumped 1.4 percent.
South Korea’s Kospi index scaled a 7-month high, with automakers, retailers and brokerage houses leading advances a day after the Bank of Korea (BOK) kept interest rates steady at 1.75 percent as expected.
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