Asian Markets Show Mixed Performance Following Gains on Wall Street

Asian stock markets displayed a mixed trend on Friday, following gains in the United States, where major indices moved closer to record highs.

US futures remained stable, while oil prices experienced a modest rise.

Japan’s Nikkei 225 fell 0.9% to 36,491.80 in early trading, a reversal from its significant 3.4% increase the previous day. A stronger yen, with the USD/JPY dropping to 141.05, added pressure on Japan’s export sector. Analysts expect the Bank of Japan to maintain its current interest rates in the upcoming meeting, though some speculate that future rate hikes may be signaled.

In other parts of Asia, Hong Kong’s Hang Seng index rose 1.1% to 17,422.75, while the Shanghai Composite edged down slightly by 0.1% to 2,714.77. China’s upcoming economic data release, expected on Saturday, could indicate further slowing in key indicators such as industrial production and retail sales.

Australia’s S&P/ASX 200 climbed 0.3% to 8,096.00, while South Korea’s Kospi dipped 0.1% to 2,568.41.

On Wall Street, the S&P 500 gained 0.7% on Thursday, nearing its record high from July. The Dow Jones Industrial Average and Nasdaq composite also saw gains of 0.6% and 1%, respectively, boosted by Nvidia’s continued strength. Investors remain focused on inflation and unemployment data in the US, which is guiding expectations for upcoming interest rate cuts by the Federal Reserve.

In energy markets, US crude oil prices rose by 31 cents to $68.28 per barrel, while Brent crude saw a similar increase to $72.28 per barrel. The bond market remained steady, with the 10-year Treasury yield edging slightly higher.

The Hill, Reuters, Yahoo Finance, and ABC News cotributed to this report.