Analytics

Following solid losses on Wall Street overnight, Asian equities were mostly lower on Friday as investors were cautious ahead of the March jobs report. Also, market participants continued to fear the Federal Reserve could hold off on interest rate cuts. Japan’s benchmark Nikkei 225 sank 2.4%, Sydney’s S&P/ASX 200 slipped 0.8%, South Korea’s Kospi dropped nearly 1.0% and Hong Kong’s Hang Seng lost 0.8%. Apart from Fed-related doubts, investors in the regional markets were nervous about tensions in the Middle East.

All three major US stock indexes registered new record closes for the second day in a row on Thursday. However, Asian equity markets were mostly lower on Friday with Chinese markets leading losses amid reports of a new US bill that will limit investment in Chinese stocks by US mutual fund firms. China’s Shanghai Composite indexes slid 0.95% during the session, while losses in technology stocks dragged Hong Kong’s Hang Seng index down more than 2%.

US stock markets fell on Thursday as investors were spooked by stronger-than-expected US inflation data. February’s PPI rose 0.6% versus the expected gain of just 0.3%. Core producer price index climbed 0.3% in February versus a 0.2% expected. As fresh data spurred more concerns over higher-for-longer interest rates, Asian stocks fell sharply on Friday. Now, investors are getting fearful of more hawkish signals from a Federal Reserve meeting next week.

After another rally on Wall Street, Asian equities were mostly higher on Friday, with Japan’s benchmark Nikkei 225 gaining 0.25%. Sydney’s S&P/ASX 200 jumped 1.07% to hit a new record high, South Korea’s Kospi surged 1.24%. Hong Kong’s Hang Seng rose 0.76%, while the Shanghai Composite gained 0.61% despite no fiscal stimulus measures from Beijing. On the data front, household spending in Japan fell 2.1% month-on-month in January versus the expected increase by 0.4%.

Inspired by Nvidia-led rally on Wall Street, Asian stocks were mostly higher on Friday. Hong Kong’s Hang Seng dropped 0.1%, the Shanghai Composite index added 0.55%, Australia’s S&P/ASX 200 was up 0.43%, and the Kospi in Seoul added 0.13%. Tokyo’s markets were closed for a holiday after surging to all-time highs during the previous session. Despite a shortened trading week in Japan, the Nikkei was among the best performers in the region this week, with a more than 1.5% rise.

US stocks stay buoyed to finish higher on Thursday, with investor sentiment upbeat due to strong earnings. After briefly topping the 5,000 mark for the first time in history, the S&P 500 index retreated to finish just 0.06% higher. The Dow Jones rose 0.13%, while the Nasdaq Composite gained 0.24%. On the data front, applications for US unemployment benefits decreased by 9,000 to 218,000 last week versus 220,000 expected, suggesting the US job market remains remarkably solid.

Asian stock markets were mostly lower on Friday as investors expressed a more cautious tone ahead of key US inflation data due later in the day. As the recent recovery in Chinese equities has run out of steam, the Shanghai Composite added just 0.14% during the session. In Japan, the Nikkei 225 continued to retreat from 34-year highs to shed 1.34%. Hong Kong’s Hang Seng index fell 1.6% as heavyweight Tencent Holdings Ltd lost 2.75% after Citibank cut the company’s price target.

After Wall Street recouped most of the week’s earlier losses overnight, Asia markets mostly advanced on Friday. Regional markets also took some positive cues from an upbeat forecast by Taiwan Semiconductor Manufacturing Corp, the world’s largest contract chipmaker. Tokyo’s Nikkei 225 index climbed 1.42% after the data showed that Japanese consumer price index inflation fell in line with expectations in December. Bucking the trend, China’s Shanghai Composite gave up 0.47%, struggling to extend its recovery from long-term lows.