Asian stock markets showed mixed performance on Friday. Singapore's Straits Times Index rose 0.3%, while Hong Kong's Hang Seng Index fell 0.5%. Overall, markets were largely supported by expectations of a Federal Reserve rate cut later in the year.
On Friday, Southeast Asian and North Asian stock markets displayed divergent trends. Singapore's Straits Times Index advanced 0.3% to 3210 points, buoyed by banking and property stocks. However, Hong Kong's Hang Seng Index declined 0.5% to 15950 points, primarily due to a pullback in tech stocks and concerns over China's economic data. Japan's Nikkei 225 edged up 0.2%. Markets generally found support from expectations that the U.S. Federal Reserve might cut interest rates later this year, boosting investor appetite for risk assets. Overnight, U.S. markets closed mixed, with the Dow Jones Industrial Average up 0.1% and the Nasdaq Composite down 0.2%, providing a complex sentiment backdrop for Asian trading.
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