Southeast Asian equities broadly rose on Friday, buoyed by optimistic US economic data and strong tech sector performance. Singapore's Straits Times Index climbed 0.6%, while Hong Kong's Hang Seng Index gained 0.9%, reflecting positive spillover effects from global markets.
Southeast Asian equity markets generally exhibited a positive trend on Friday, largely buoyed by optimistic sentiment from the US markets. Global investor mood improved following better-than-expected US employment data and strong earnings reports from tech giants. Singapore's Straits Times Index climbed 0.6% to close at 3250.15 points, while Hong Kong's Hang Seng Index gained 0.9% to 16280.40 points. Malaysia's KLCI also followed the regional upward trend. Analysts noted that despite some localized challenges within the region, expectations of a global economic recovery and hopes for potential interest rate cuts by major central banks later this year provided support for Asian markets. Investors are also closely watching the upcoming Chinese New Year holidays, which are expected to influence trading volumes in the week ahead.
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