China Developers do Better This Time
China Developers do Better This Time

Asian markets ended higher on Friday, after Wall Street's humble gains on Thursday, with exporters supporting the Tokyo market on the yen's withdrawal, while property developers outdo in China.

Japan's Nikkei 225 added 0.8%, Australia's S&P/ASX 200 climbed 0.2% and South Korea's Kospi expanded 0.7%. Hong Kong's Hang Seng Index added 0.2%, China's Shanghai Composite rose 0.7% and Taiwan's main index gained 0.2%, while India's Sensex inched up 0.1% in afternoon trading. Dow Jones Industrial Average futures were flat in screen trade.

Property developers took the lead in China, after the state-run People's Daily reported on Thursday that China's state possessions controller has prepared 78 companies directly owned by the central Government to exit the property development business. Poly Real Estate Group was up 0.9% and China Vanke gained 0.8%.

Investors showed their worries over Greece's debt problems, which were stimulated by talk that the country would look for aid from the International Monetary Fund. A senior Greek official said on Thursday that the government could approach the IMF for support during a meeting in early April, although this was denied by the Greek Government.

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