Asian stock markets showed mixed performance on Friday as investors weighed expectations for a US Federal Reserve rate cut against new manufacturing data from China. Hong Kong's Hang Seng Index rose 0.8%, while Singapore's Straits Times Index edged down 0.1%.
Asian stock markets presented a mixed picture on Friday, as investors grappled with a complex outlook for the global economy. Hong Kong's Hang Seng Index advanced 0.8% to close above 16,500 points, primarily boosted by tech and financial stocks following signs of improving economic activity in China. However, Singapore's Straits Times Index edged down 0.1% to 3,180 points, as investors took profits after recent gains. Overnight, US equities closed higher on growing expectations that the Federal Reserve might initiate rate cuts by mid-year, providing some support for risk assets. Nevertheless, ongoing concerns about China's property sector and potential global supply chain disruptions kept regional market sentiment cautious. Analysts anticipate Asian markets will continue to be influenced by Federal Reserve policy signals and the pace of China's economic recovery in the coming week.
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