Asian markets showed mixed performance on Friday, with Singapore's Straits Times Index dipping 0.2% and Hong Kong's Hang Seng Index gaining 0.6%. The divergent trends were influenced by varying domestic factors and global cues. Strong overnight performance in US technology stocks provided a significant boost to regional tech counters, partially offsetting concerns about China's economic outlook and global interest rates.
Major stock markets across Southeast and North Asia displayed mixed performance on Friday. Singapore's Straits Times Index edged down 0.2% to close at 3,180 points, primarily due to profit-taking in banking stocks. Concurrently, Hong Kong's Hang Seng Index climbed 0.6% to 16,050 points, buoyed by a rebound in Chinese technology giants. The strong overnight performance of the US Nasdaq Composite, particularly gains in mega-cap tech stocks, injected positive sentiment into Asian technology counters. Analysts noted that regional markets would continue to be influenced by global macroeconomic data, expectations regarding the US Federal Reserve's monetary policy, and China's economic stimulus measures.
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