Asian stocks up modestly; U.S., Europe markets closed

Staff reports Updated: March 29, 2013 at 12:00 am • Published: March 29, 2013

BANGKOK — Asian stock markets were mostly higher Friday as momentum carried over from yet another record high on Wall Street.

Trading remained thin, however, as stock, bond and commodities markets were closed for Good Friday in the U.S. and Europe, along with large parts of Asia.

The Standard and Poor's 500 index closed Thursday at its highest level, driven by more encouraging data on the U.S. economic recovery. The government said the economy grew at an annual rate of 0.4 percent in the October-December quarter, slightly better than previous estimates. The revision reflected stronger business investment and export sales.

Those markets open in Asia reflected the good news out of the U.S.: South Korea's Kospi rose 0.6 percent to 2,004.89. Taiwan's TAIEX advanced 0.7 percent to 7,918.61.

Japan's Nikkei reversed early losses to rise 0.5 percent and close at 12,397.91.

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