Asian shares were mostly lower following strong gains in Europe overnight, while the FTSE 100 climbed in premarket trading after Labour’s overwhelming election victory.
Japan’s benchmark Nikkei 225 rose above 41,000 but then retreated from Thursday’s record close of 40,913.65.
In Tokyo, the government reported that higher prices dampened consumer sentiment more than anticipated in May, leading to a 1.8% decline in household spending.
Chinese markets showed notable weakness, with Hong Kong’s Hang Seng falling 1.1% to 17,823.67 and the Shanghai Composite index dropping 0.9% to 2,929.98. The Shanghai benchmark has been trading near its lowest levels since February.
In Seoul, the Kospi surged 1.3% to 2,860.26 after Samsung Electronics forecast a more than fifteenfold increase in its second-quarter operating profit compared to the previous year, reaching 10.4 trillion won ($7.52 billion).
Like Nvidia, Taiwan’s TSMC, Tokyo Electron, and other chip makers, Samsung is benefiting from a resurgence in the semiconductor industry as artificial intelligence applications proliferate.
Elsewhere in the region, Australia’s S&P/ASX 200 slipped 0.2% to 7,820.20. Taiwan’s Taiex inched up 0.1%, and Bangkok’s SET rose 0.2%.
With US markets closed on Thursday, attention shifted to Britain, where FTSE 100 futures were up 0.2% as the Labour Party was poised for a landslide victory in the general election.
