Stocks in Asia edged higher in Friday afternoon trade as positive economic data raised optimism over the prospects of an economic recovery from the coronavirus pandemic.

This follows a unanimous approval of the transaction by shareholders of Jamii Bora Bank during the extra ordinary general meeting held Wednesday.

The S&P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 123 new highs and 10 new lows

The Derivatives Market had 2 contracts valued at Kes 64,050 transacted in today’s trading session. This was against the 4 contracts valued at Kes 112,600 concluded in the previous session.

KDIC says the new limit will cover 99 per cent of depositors with funds in banks and deposit-taking microfinance institutions.