Asian markets trade mostly higher in early deals on Friday

Most of the Asian equity benchmarks are trading higher in the early deals on Friday on the account of fairly upbeat data out of the US and a recovery in oil prices. However, investors treading cautiously amid worries about the global economy on the back of recent weak data out of euro zone and China limited the upside. On the regional front, the Japanese stock market declined on a stronger yen and on caution ahead of a long weekend. Besides, Japanese Finance Minister Taro Aso said its decline has been too fast and as Prime Minister Shinzo Abe prepares to dissolve parliament ahead of elections, too contributed to the downside. Among other markets in the Asia-Pacific region, South Korea, Shanghai and Singapore are up with solid gains and Taiwan and Hong Kong are marginally higher. Indonesia is down marginally, while Malaysia is notably lower. Hang Seng soared 25.42 points or 0.11% to 23,375.06,  KOSPI Index increased by 7.05 points or 0.36% to 1,965.09, Straits Times Index gained 21.70 points or 0.65% to 0.65%, Shanghai Composite added 14.01 points or 0.57% to 2,466.67 and Taiwan Weighted was up by 11.31 points or 0.12% to 9,090.18. On the flip side, Nikkei 225 declined by 92.68 points or 0.54% to 17,208.18, Jakarta Composite contracted by 0.63 points or 0.01% to 5,092.93 and FTSE Bursa Malaysia KLCI was down by 9.76 points or 0.54% to 1,812.53.