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MW: Asian shares end mostly higher; exporters lift Tokyo
 
By V. Phani Kumar, Shri Navaratnam & Philip Vahn
HONG KONG (MarketWatch) -- Most Asian markets ended higher Friday on the heels of Wall Street's modest gains, with exporters underpinning the Tokyo market on the yen's retreat and with property developers outperforming in China.

Investors appeared to be taking in stride renewed worries over Greece's debt problems, reflecting talk that the country would seek aid from the International Monetary Fund. A senior Greek official said Thursday the government could approach the IMF for assistance during a meeting in early April, although this was denied by the Greek government.

"I think the market is recovering because the factors that caused the correction have been resolved; China has not announced any surprising [tightening] measures and the Europe debt problem does not look as serious as when it first surfaced," said Goh Mou Lih, Westcomb research head in Singapore.

DBS said in a note to clients that Asia's output and consumption are above pre-crisis levels, while interest rates remain at historic rock-bottom levels.

Japan's Nikkei 225 Average added 0.8%, while South Korea's Kospi gained 0.7% and Australia's S&P/ASX 200 climbed 0.2%.

Hong Kong's Hang Seng Index added 0.2%, the Shanghai Composite rose 0.7% and Taiwan's main index gained 0.2%, while India's Sensex inched up 0.1% in afternoon trading. Dow Jones Industrial Average (INDU 10,779, +45.50, +0.42%) futures were flat in the wake of Thursday's mildly higher session on Wall Street. See Indications.

Property developers took the lead in China after the state-run People's Daily reported Thursday that the state assets regulator has ordered 78 companies directly owned by the central government to exit the property-development business. Shares of Poly Real Estate Group (CN:600048 20.87, +0.19, +0.92%) traded up 0.9% as China Vanke (CN:000002 9.62, +0.08, +0.84%) (CVKE.Y 23.61, +0.00, +0.01%) gained 0.8%.

Japan's Nikkei 225 Average added 0.8%, while South Korea's Kospi gained 0.7% and Australia's S&P/ASX 200 climbed 0.2%.

Hong Kong's Hang Seng Index added 0.2%, the Shanghai Composite rose 0.7% and Taiwan's main index gained 0.2%, while India's Sensex inched up 0.1% in afternoon trading. Dow Jones Industrial Average (INDU 10,779, +45.50, +0.42%) futures were flat in the wake of Thursday's mildly higher session on Wall Street. See Indications.

Property developers took the lead in China after the state-run People's Daily reported Thursday that the state assets regulator has ordered 78 companies directly owned by the central government to exit the property-development business. Shares of Poly Real Estate Group (CN:600048 20.87, +0.19, +0.92%) traded up 0.9% as China Vanke (CN:000002 9.62, +0.08, +0.84%) (CVKE.Y 23.61, +0.00, +0.01%) gained 0.8%.

Source