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Asian stocks mostly higher in holiday trading

SEOUL, South Korea – The few Asian stock markets that were trading Friday mostly advanced, with shares in Tokyo and Shanghai up and Seoul stocks slightly lower. Financial markets in Europe, the United States and most of Asia were closed for the Good Friday holiday.

Japan’s Nikkei 225 rose 0.7 percent to 17,002.75. South Korea’s Kospi edged down 0.1 percent at 1,983.81. China’s Shanghai Composite Index traded 0.6 percent higher at 2,979.43. Markets in Australia, Hong Kong, Singapore, Indonesia and India that were closed for the Good Friday holiday will remain closed until Monday for Easter.

Chinese Premier Li Keqiang said on Thursday at an annual forum in China that the country will maintain medium-high growth and it has many tools to turn the economy around. Chinese leaders have set an economic growth target of 6.5 to 7 percent for this year.

“Although by most standards the market is running quiet, a recent shift in global investor sentiment has been beneficial for China,” Stephen Innes, senior foreign exchange trader at OANDA Asia Pacific, said in a daily commentary. “The long-term prospects are still muddled however. Capital outflows will be a concern along with China’s struggling economy.”

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