Asian stocks showed a mixed performance after U.S. markets approached their record highs following several economic reports that met expectations.
Japan’s Nikkei 225 fell by 0.9% to 36,491.80 in morning trading after a 3.4% gain on Thursday. The Japanese yen strengthened against the dollar, which declined from 141.79 to 141.05, putting pressure on Japan’s export sector.
In contrast, Hong Kong’s Hang Seng Index rose by 1.1% to 17,422.75, while the Shanghai Composite Index dipped 0.1% to 2,714.77. China will release its monthly economic data on Saturday, with expectations of a slowdown in industrial production, fixed asset investment, and retail sales.
Meanwhile, Australia’s S&P/ASX 200 increased by 0.3% to 8,096.00, while South Korea’s Kospi fell by 0.1% to 2,568.41.
On Wall Street, major indexes closed higher on Thursday. The S&P 500 gained 41.63 points to 5,595.76, the Dow Jones Industrial Average climbed 235.06 points to 41,096.77, and the Nasdaq surged 174.15 points to 17,569.68, as new inflation data bolstered expectations for a 25-basis point rate cut by the Federal Reserve next week.
