Investing.com - Asian shares gained on Friday with markets in many regional trading centers closed today to mark the Eid holidays, including Singapore, Malaysia and Indonesia.
The Shanghai Composite gained 1.37%, while the S&P/ASX 200 held steady to higher and the Nikkei 225 rose 0.19%.
Overnight, U.S. stocks moved broadly higher on Thursday reversing slight losses from a session earlier, amid strong earnings from a host of prominent companies and indications that the Federal Reserve will raise interest rates at some point this year.
Bolstered by a gain in technology stocks, the NASDAQ surged more than 1.25% on the session to eclipse a record-high previously reached in June. The Dow Jones Industrial Average and S&P 500 Composite index, meanwhile, also had strong sessions on Thursday, closing higher for the fifth time in six sessions.
On Thursday, U.S. data showed that manufacturing activity in the Philadelphia-region expanded at the slowest pace in four months in July.
The Federal Reserve Bank of Philadelphia reported on Thursday that its manufacturing index deteriorated to a reading of 5.7 this month from June's reading of 15.2. Analysts had expected the index to fall to 12.0 in July.
The report came after the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending July 11 fell by 15,000 to 281,000 from the previous week’s total of 296,000. Analysts had expected initial jobless claims to fall by 10,000 to 285,000 last week.
As well, Federal Reserve Chair Janet Yellen said, in testimony before the House Financial Services committee on Wednesday, that the Fed is likely to raise rates "at some point this year." She added that the U.S. labor market healthier but "still some slack."
Greece’s parliament on Wednesday approved stringent reform measures demanded by the country’s creditors in order to secure a new bailout program.
Draghi said it now appeared that Greece would make the repayment and clear its arrears to the International Monetary Fund.
A €7 billion short-term financing package to keep Greece afloat until the new bailout can be finalized has been agreed in principal.