On Friday, Singapore's Straits Times Index rose 0.3%, boosted by banking stocks. In contrast, Hong Kong's Hang Seng Index fell 0.5%, dragged down by technology shares. Regional markets showed mixed performance, reflecting divergent investor views on the prospects of various economies.
Major stock markets across Southeast and North Asia displayed divergent trends on Friday, reflecting complex investor sentiment regarding global and regional economic prospects. Singapore's Straits Times Index (STI) rose 0.3% to close at 3250, primarily benefiting from strong performances by local banking stocks such as DBS Group Holdings Ltd. In contrast, Hong Kong's Hang Seng Index (HSI) fell 0.5% to 16050, with declines in technology giants like Tencent Holdings Ltd and Alibaba Group Holding Ltd being key drags, as concerns over China's economic slowdown persisted. Mixed movements in US markets overnight also influenced Asian market sentiment. Analysts noted that regional markets would continue to monitor the US Federal Reserve's monetary policy path, China's economic data, and geopolitical developments, all of which could trigger market volatility in the short term.
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