TOKYO: Shares rose in Asia on Friday after technology and consumer-focused stocks led an overnight rally on Wall Street, marking a dramatic end to the market’s most volatile quarter in more than two years. Many regional markets were closed for Good Friday.
KEEPING SCORE: Japan’s Nikkei 225 index added 1.1 percent to 21,391.47 and the Kospi in South Korea climbed 0.8 percent to 2,455.35. The Shanghai Composite index edged 0.1 percent higher to 3,163.95 and shares rose in Taiwan and Thailand.
WALL STREET’S SURGE: Banks and industrial stocks also lifted the market and recent laggards such as Facebook and Boeing rose. Even so, the solid gains couldn’t prevent the stock market’s first quarterly loss since the third quarter of 2015. The S&P 500 rose 1.4 percent to 2,640.87. The Dow gained 1.1 percent to 24,103.11 and the Russell 2000 index of smaller-company stocks also picked up 1.1 percent, to 1,529.43. The Nasdaq added 1.6 percent to 7,063.44, closing the quarter with a gain of 2.3 percent. U.S. stock markets will be closed for the Good Friday holiday.
JAPAN DATA: Data released Friday showed industrial production rebounded in February, gaining 4.1 in February from the month before, after a 6.8 drop in January.
ENERGY: Trading stopped for the long Easter weekend. On Thursday, benchmark U.S. crude rose 56 cents to $64.94 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, added 74 cents to $70.27 per barrel in London.
CURRENCIES: The dollar fell to 106.22 yen from 106.43 yen on Thursday. The euro strengthened to $1.2317 from $1.2301.
