Asian shares closed mostly higher on Good Friday holiday trading, with European and U.S. markets closed for the day. Tokyo's Nikkei 225 rose by 0.5% to 40,369.44, while the Kospi in Seoul remained relatively unchanged at 2,748.55. The Shanghai Composite index gained 1% to reach 3,041.17, and Taiwan's Taiex advanced by 0.7%. In Bangkok, the SET added 0.5% to its value.
India's markets were closed for the Holi festival, contributing to the subdued trading activity. The U.S. dollar saw a slight decline against the Japanese yen, slipping to 151.35 from 151.38 yen. The euro also edged lower to $1.0774 from $1.0790.
On Thursday, the S&P 500 reached a new all-time high of 5,254.35, marking a 0.1% increase. The Dow Jones Industrial Average also set a record, ticking up by 0.1% to 39,807.37. However, the Nasdaq composite dipped slightly by 0.1% to 16,379.46.
Despite reporting better-than-expected results for the latest quarter, Chemours saw a 9.1% decline in its stock value due to a forecast for earnings below analysts' expectations. Trump Media & Technology Group, the company behind Truth Social, experienced a 6.4% drop in its stock price after significant gains in the previous days.
The U.S. stock market has been on a strong upward trend since late October, with the S&P 500 gaining 10.2% in the first quarter. The Federal Reserve has indicated potential interest rate cuts later in the year to support the economy amid inflation concerns.
Recent reports show the U.S. economy's resilience, with stronger growth in the final quarter of last year and a decrease in unemployment benefit applications. Investors are closely monitoring signs of recovery in the housing market, anticipating lower interest and mortgage rates in the coming months.
U.S. benchmark crude oil prices rose in electronic trading, with WTI crude gaining $1.82 to $83.17 per barrel and Brent crude surging $1.59 to $87.00 per barrel. The positive momentum in the oil market reflects ongoing optimism about economic recovery and demand.
