,MSCI's ex-Japan Asia index rose 0.4% after hitting a near three-month low on Thursday, while the Shanghai Composite Index gained 0.8%, snapping a three-day losing streak.
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MOST emerging Asian share markets climbed on Friday as investors focused on signs of economic recovery, taking positive cues from a bounce back in Chinese equities even as concerns from rising tensions between the West and Beijing loomed.
MSCI's ex-Japan Asia index rose 0.4% after hitting a near three-month low on Thursday, while the Shanghai Composite Index gained 0.8%, snapping a three-day losing streak.
In tandem with the broader gains, stocks in Taiwan, India, Indonesia and South Korea climbed nearly 1%.
China is expected to lead the recovery of East Asian and Pacific economies this year, but many nations will record sub-par growth as they struggle to emerge from the coronavirus pandemic, according to new World Bank forecasts.
Meanwhile, the IMF upgraded South Korea's 2021 growth forecast to 3.6% from 3.1% previously, supported by a rebound in tech exports and added fiscal stimulus.
However, concerns remained over the broader outlook for equities as a Reuters poll showed another bond market sell-off is likely in the next three months following the recent rout in financial markets.
Worries about escalating tensions between the United States and Beijing - both key trading partners of countries in the region - also weighed on investor sentiment.
U.S. President Joe Biden vowed on Thursday to push China to play by international rules and said he would prevent China from passing the United States to become the most powerful country in the world.
Indian shares bounced back after shedding about 3% in last two sessions but were set for their worst week in five as rising coronavirus cases threatened to prolong the economic impact of the pandemic.
The country has put a temporary hold on all major exports of the AstraZeneca coronavirus shot made by the Serum Institute of India to meet domestic demand, two sources told Reuters.
Authorities ordered people indoors in some towns in western India as the number of new coronavirus infections hit the highest in five months on Thursday.
Mizuho Bank analysts said the latest wave will smudge recovery prospects but will not derail it given the absence of any stringent lockdowns.
On Thursday, the Philippine central bank joined its regional peers in keeping key interest rates steady.
With only three trading days left in March, Philippine and Indian shares were set to underperform regional peers.
Regional currencies were a mixed bag as the U.S. dollar traded near multi-month highs, while China's yuan inched up on as Beijing vowed continued support for its economy.
The Singapore dollar and the Indian rupee climbed about 0.2%, while Thai baht and Taiwan dollar weakened. - Reuters