Southeast Asian markets showed mixed performance on Friday, with Singapore's Straits Times Index gaining 0.7%, boosted by banking stocks. In contrast, Hong Kong's Hang Seng Index fell 0.5%, weighed down by China's economic data and property market concerns. US market data had limited impact on regional sentiment.
Major Southeast Asian stock markets displayed divergent trends on Friday. Singapore's Straits Times Index (STI) rose 0.7% to close at 3250 points, primarily boosted by strong performances from local banking stocks like DBS and OCBC. Investors remained optimistic about the resilience of Singapore's economy. In contrast, Hong Kong's Hang Seng Index (HSI) fell 0.5% to 16800 points, largely influenced by weaker-than-expected economic data from China and ongoing concerns about its property market. Despite a stable overnight performance in US markets, its impact on Asian sentiment was limited, with regional investors focusing more on local and regional economic fundamentals. The Malaysian market maintained relative stability amidst the mixed regional sentiment.
Share: