Ceasefire Prospects Lift Asian Stock Markets

Asian stock markets gained ground Friday, after media reports that US-Iran ceasefire negotiations will take place on Saturday in Pakistan.Hong Kong, Shanghai and Tokyo finished in the green, as did most other regional exchanges.Brent oil futures held under $100 a barrel, near $96 during Asian trading hours.In Japan, the Nikkei 225 opened higher and rose to the close, finishing up 1.8% as traders weighed a profit report from a major retailer and mulled Middle East peace prospects.The benchmark Nikkei 225 rose 1,028.79 to 56,924.11, although losing issues outnumbered gainers 146 to 75.Leading the upside was Fast Retailing, up 12% after reporting H1 earnings and issuing upbeat guidance. Consultancy BayCurrent declined 5.8%.In economic news, Japan's producer price index (PPI) rose 2.6% on year in March, after rising 2.1% on year in February, pushed by higher oil bills, reported the Bank of Japan.In Hong Kong, the Hang Seng Index opened higher and held ground, closing up 0.6% after an inflation report from Beijing suggested the nation's bout with industrial-price deflation may be ebbing.The broad gauge Hang Seng rose 141.14 to 25,893.54 as gaining issues outnumbered losers 56 to 31. The Hang Seng TECH Index gained 0.8% on the day, while the Mainland Properties Index rose 0.4%.Leading the upside was Contemporary Amperex Technology, gaining 9%, while noodle-maker Tingyi declined 3.3%.On the mainland, the Shanghai Composite rose 0.5% to 3,986.22.In economic news, China's producer price index (PPI) rose 0.5% on year in March, snapping a 41-month stretch of contraction, reported the National Bureau of Statistics.China's consumer price index (CPI) rose 1% in March on year, slipping February's 1.3% reading, added the NBS.On the other regional exchanges, the S. Korean KOSPI rose 1.4%; the Taiwan TWSE inclined 1.6%; the Australian ASX 200 declined 0.1%; the Singapore Straits Times Index rose 0.3%, and the Thai Set inclined 1.2%. In late trading in Mumbai, the Sensex was up 1.2%The MSCI All Country Asia Pacific Index rose 0.7% on the day.

-- Asian stock markets gained ground Friday, after media reports that US-Iran ceasefire negotiations will take place on Saturday in Pakistan.

Hong Kong, Shanghai and Tokyo finished in the green, as did most other regional exchanges.

Brent oil futures held under $100 a barrel, near $96 during Asian trading hours.

In Japan, the Nikkei 225 opened higher and rose to the close, finishing up 1.8% as traders weighed a profit report from a major retailer and mulled Middle East peace prospects.

The benchmark Nikkei 225 rose 1,028.79 to 56,924.11, although losing issues outnumbered gainers 146 to 75.

Leading the upside was Fast Retailing, up 12% after reporting H1 earnings and issuing upbeat guidance. Consultancy BayCurrent declined 5.8%.

In economic news, Japan's producer price index (PPI) rose 2.6% on year in March, after rising 2.1% on year in February, pushed by higher oil bills, reported the Bank of Japan.

In Hong Kong, the Hang Seng Index opened higher and held ground, closing up 0.6% after an inflation report from Beijing suggested the nation's bout with industrial-price deflation may be ebbing.

The broad gauge Hang Seng rose 141.14 to 25,893.54 as gaining issues outnumbered losers 56 to 31. The Hang Seng TECH Index gained 0.8% on the day, while the Mainland Properties Index rose 0.4%.

Leading the upside was Contemporary Amperex Technology, gaining 9%, while noodle-maker Tingyi declined 3.3%.

On the mainland, the Shanghai Composite rose 0.5% to 3,986.22.

In economic news, China's producer price index (PPI) rose 0.5% on year in March, snapping a 41-month stretch of contraction, reported the National Bureau of Statistics.

China's consumer price index (CPI) rose 1% in March on year, slipping February's 1.3% reading, added the NBS.

On the other regional exchanges, the S. Korean KOSPI rose 1.4%; the Taiwan TWSE inclined 1.6%; the Australian ASX 200 declined 0.1%; the Singapore Straits Times Index rose 0.3%, and the Thai Set inclined 1.2%. In late trading in Mumbai, the Sensex was up 1.2%

The MSCI All Country Asia Pacific Index rose 0.7% on the day.