Asian markets rise as broadly positive week draws to a close

Hong Kong, March 1: Markets rose in Asia on Friday though investors remain cautious as they await developments after the failure of the Trump-Kim summit while also keeping an eye on the stand-off between India and Pakistan.

A better-than-expected reading on US economic growth lifted sentiment, while optimistic comments from a top White House economic advisor on the China-US trade talks also provided support.

The gains put the region on course for another strong week despite disappointment over the North Korea talks in Hanoi and renewed tensions in Kashmir.

Tokyo led gains Friday, jumping 0.9 percent by the break thanks to a weaker yen, while Hong Kong climbed 0.4 percent.

Shanghai put on 0.6 percent, extending a rally that has seen it climb by about a fifth since the start of the year thanks to expectations over the trade talks.

Adding to the interest in mainland equities was news that index compiler MSCI will increase the weighting of Chinese-listed stocks in its benchmark indices and nearly double the number of companies included.

With those indices used by global funds for their investments, the move is expected to attract tens of billions of dollars more to the country's markets.

Sydney climbed 0.6 percent, Singapore edged up 0.2 percent and Wellington added 0.4 percent with Jakarta. Taipei and Seoul were closed for public holidays.

Traders brushed off a negative lead from Wall Street that came after data showed the US economy grew in the fourth quarter at a much slower pace than the previous three months but was much better than forecasts.

(AFP/APP)