Asian stocks up but investors cautious, digest US data
Asia Pacific stocks went up on Friday morning but concluded the week with a watchful eye as investors continue to mull over the latest US economic data and earnings.
South Korea’s KOSPI went up 0.22% by 9:56 PM ET (1:56 AM GMT) while Hong Kong’s Hang Seng Index dropped 0.65%.
Going over to Australia, the ASX 200 inched up 0.04%.
In China, Shanghai Composite dipped 0.34% while the Shenzhen Component climbed up 0.33% even as Didi Global Inc. faced scrutiny and penalties following its US IPO in June 2021. Meanwhile, Japan’s markets remained closed for a holiday amid the state of emergency declared in the country.
Looking at the US, the country’s shares edged forward, approaching an all-time high. S&P recorded its largest three-day advance since April 2021 while the Nasdaq 100 closed at a record.
Globally, shares are set to finish the week with a modest gain as investors regain risk appetite owing to generally strong corporate earnings and assurance that central banks will retain a dovish stance on monetary policy.