Asian shares end higher following holiday trade

Asian shares end higher following holiday trade

3 April 2015, 11:48
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Asian shares finished the week higher following a quiet trading day, as they took positive cues from Wall Street. A number of the region's major markets closed for the Good Friday holidays. 

Japan's benchmark Nikkei 225 index closed 0.6% higher to reach 19,435.08 - gaining 0.8% for the week.

The greenback declined to 119.68 yen from 119.77 yen in New York.

Toyota's shares were up 0.6% after local reports that it is planning to open two new factories in Mexico and China at a cost of $1.25bn (£842m).

The Shanghai Composite closed at a fresh seven-year high, gaining 1% to 3,863.93 points.

China's benchmark equity index has surged 4.7% this week driven by expectations of more monetary easing.

On Thursday, Chinese securities regulator also approved 30 initial public offerings (IPOs) - a move that could cool the stock market rally as investors seek to move funds from existing stocks.

A private poll also indicated that China's services sector expanded in March but growth in employment and new business dropped to their lowest in eight months.

The HSBC/Markit China services purchasing managers' index (PMI) was up to 52.3, from February's 52. That's above the 50-point level that separates growth from a contraction in activity.

South Korean shares hit their highest closing level in six and half months and climbed 1.3% for the week, despite the holiday trade.

The benchmark Kospi index closed up 0.8% to 2,045.42 points - its highest finish since 19 September.

Markets in Australia and Hong Kong were closed for the public holiday.

Later in the day, market players await key US jobs figures.