Asian shares rose on Friday as Chinese shares returned from a one week holiday upbeat, tracking a global rally, while investors also eyed key U.S. jobs data for any fresh insight into the timing of Federal Reserve tapering.
MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS)rose0.5%, after rallying 2.1% the day before, its biggest daily gain since August. Japan's Nikkei index (.N225) advanced 1.8%.
Chinese blue chips (.CSI300) gained 0.56% as they resumed trading after being closed for the National Day holiday, while Hong Kong (.HSI), which has been open all week, gained 1%.
Elsewhere, Australian shares (.AXJO) rose 0.84%, helped by mining stocks amid surging commodities prices.
The focus remains on the property market as investors wait to see whether regulators take action to contain the contagion from cash-strapped China Evergrande Group’s (3333.HK) debt problems.
U.S. futures rose 0.16% after the U.S. Senate approved legislation to temporarily raise the federal government's $28.4 trillion debt limit and avoid the risk of a historic default later this month.
Investors are also keeping an eye on U.S. employment data for September due later on Friday. They expect employment figures that are near consensus will lead the Federal Reserve to indicate at its November meeting when it will begin tapering its massive stimulus program.
U.S. Treasury yields rose ahead of those figures, with volatility at the shortest end of the curve easing as the plan to avoid a default on government debt emerged.
In Asian hours, the benchmark 10-year U.S. Treasury yield rose 1.6 basis points to 1.58887%, its highest since June when it touched 1.594%.
· Shares of semiconductor giant Samsung rise after it says third-quarter profit likely rose 28%
· Indian shares advance as cenbank leaves rates unchanged, assures liquidity
Indian shares extended gains on Friday after the central bank kept key interest rates unchanged as expected and promised adequate liquidity to support the economic recovery.
At 0525 GMT, the NSE Nifty 50 index was up 0.72% at 17,918.90 and the benchmark S&P BSE Sensex rose 0.80% to 60,126.87.
· European markets flat after volatile week; investors await U.S. jobs report
European markets were muted on Friday after a roller-coaster week for global stocks, with investor focus now turning to a key U.S. jobs report.
The pan-European Stoxx 600 was little changed in early trade, with oil and gas stocks adding 0.9% while food and beverages fell 0.3%.
Reference: CNBC, Reuters
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