Asian markets showed mixed performance on Friday. Singapore's Straits Times Index rose 0.4%, while Hong Kong's Hang Seng Index fell 0.8%. Investors were digesting hawkish remarks from US Federal Reserve officials, which tempered enthusiasm for early rate cuts, while also scrutinizing recent economic data from China. The mixed signals created a cautious trading environment across the region. Japan's Nikkei 225 also saw a modest gain of 0.2%, reflecting some domestic strength.
Asian equity markets displayed a mixed performance on Friday amidst global uncertainties. Singapore's Straits Times Index (STI) rose 0.4% to close at 3,220 points, primarily supported by banking stocks and real estate investment trusts. Concurrently, Hong Kong's Hang Seng Index (HSI) fell 0.8% to 15,680 points, largely dragged down by technology shares, as investors remained cautious about the strength of China's economic recovery. Hawkish remarks from US Federal Reserve officials, hinting at a potentially delayed rate cut, exerted some pressure on regional markets. However, the positive opening after China's Lunar New Year and expectations for stimulus measures provided some support to certain markets. Overall, regional markets remain in a 'wait-and-see' mode, awaiting further macroeconomic signals.
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