Southeast Asian equity markets displayed mixed performance on Friday. Robust US jobs data fueled concerns about potential Federal Reserve interest rate hikes, while persistent worries over China's economic slowdown continued to weigh on regional market sentiment. This combination of global factors led to cautious trading across the region.
Singapore's Straits Times Index edged down 0.2%, while Hong Kong's Hang Seng Index fell 0.7% amid weaker-than-expected economic data from China. Meanwhile, US markets closed higher overnight, buoyed by tech stocks, but a strong jobs report could prompt the Federal Reserve to maintain a hawkish stance, putting pressure on Asian markets. The Malaysian market, to some extent, was supported by domestic factors, but cautious regional sentiment limited gains. Investors are closely monitoring upcoming global inflation data and central bank statements for clues on future policy direction.
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