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Analytics
After mostly bearish trading on Wall Street overnight, Asian equities were mixed and little changed on Friday as investors were cautious in anticipation of key US payrolls data. Meanwhile, persistent concerns over China added to indecisive tone among market players, with most regional markets closing lower for the week after Fitch downgraded the issuer default ratings of four Chinese national asset management companies. The Shanghai Composite index gave up 0.85% on Friday while Hong Kong’s Hang Seng index shed 0.7%.
Asian stocks were mixed on Friday despite a rebound on Wall Street as most indexes gave up early gains to finish in negative territory. Tokyo's Nikkei 225 index edged just 0.3% higher after the data showed that Japan's core inflation rate fell to 2.5% in November from 2.9% a month earlier. The index was up 0.7% this week and stayed close to a 33-year high. In Sydney, the S&P/ASX 200 picked up 0.1% to 7,510.90. The Kospi in Seoul gave up early gains to finish 0.02% lower. In Sydney, the S&P/ASX 200 picked up 0.1%.
Following yesterday’s gains on Wall Street, Asian equities advanced on Friday amid persistent excitement that the Fed might cut interest rates several times next year. The Hang Seng surged 2.5% to lead gains in the region as property developers jumped after some Chinese cities eased buying restrictions. The Shanghai Composite index, however, failed to preserve the upside momentum to finish 0.56% lower even as the data showed that China’s factory output rose 6.6% in November. Elsewhere, Tokyo’s Nikkei 225 index advanced 0.93%, while the S&P/ASX 200 in Australia gained nearly 0.9%.
Asian equities were mixed on Friday before key U.S. nonfarm payrolls data due later in the day. Leading losses, the Nikkei 225 fell 1.8% after BOJ Governor Ueda outlined the options the bank had to pivot away from ultra-low interest rates. Meanwhile, the data showed that Japan’s economy shrank by 2.9% year-on-year in the third quarter, worse than estimated earlier. Elsewhere, Hong Kong’s Hang Seng index erased early gains to finish 0.13% lower and the Shanghai Composite index was up 0.11%.
Asian stocks sank on Friday amid some profit-taking after strong gains in November. Also, investors turned more cautious with focus now turning to an upcoming address from Fed Chair Powell as markets await more cues on interest rates. Besides, market participants continued to digest the recent report from China where the manufacturing activity survey showed persistent weakness in the sector. Still, China’s Shanghai Composite managed to erase early losses to turn slightly positive on the session, while Hong Kong’s Hang Seng index fell 0.2%.
US equities were mixed-to-lower overnight after a solid rally earlier the week triggered by an unexpectedly weak US inflation report. The Dow Jones dropped about 0.1% while the Nasdaq Composite added less than 0.1% and the benchmark S&P 500 gained 0.12%. In individual stocks, shares of Walmart fell 8% even as the company reported quarterly earnings that topped estimates. Investors were disappointed by the fact that Walmart raised its annual outlook by less than expected.
Following solid gains in Wall Street overnight, Asian shares rallied on Friday amid expectations that interest rate hikes are coming to an end. China’s Shanghai Composite edged 0.71% higher after a services industry survey showed a slight improvement last month. On the negative side, Chinese retail sales hit its lowest level in ten months. Hong Kong’s Hang Seng rallied 2.46%, Australia’s S&P/ASX 200 gained 1.14% after data showed that retail sales unexpectedly grew in the third quarter.
Asian equities saw some recovery on Friday after the recent slide. Leading the gains in the region, Hong Kong’s Hang Seng index rallied nearly 2% while the Shanghai Composite added 0.99%. Japans’s Nikkei 225 gained 1.38% after the data showed that the core CPI in Tokyo rose 2.7% in October compared to a year ago versus an expected rise of 2.5%. The core consumer price index for Tokyo includes oil products but excludes fresh food prices. In Australia, the S&P/ASX 200 ended 0.21% higher.