Asian stocks higher after mixed Wall Street day

Asian stock markets were mostly higher Friday following a mixed Wall Street close on listless trading.

Benchmarks in Seoul, Sydney and Tokyo climbed. China’s primary index was up 1 point when Hong Kong retreated.

Investors saw for Chinese trade data due.

Traders were hoping for a”good pair of figures” in Beijing following suddenly strong March manufacturing and inflation data, said Jingyi Pan of IG in a report.

Major U.S. stock indicators closed unevenly Thursday following losses in health care stocks largely offset gains in industrial businesses and banks. Leading indicators closed high.

In Asia, Tokyo’s Nikkei 225 index rose 0.6percent to 21,841.95 and the Shanghai Composite Index stood at 3,190.78. Seoul’s Kospi advanced 0.2percent to 2,228.02 along with Sydney’s S&P-ASX 200 added 0.2percent to 6,236.60.

Hong Kong’s Hang Seng drop 0.2% to 29,776.62. New Zealand and Southeast Asian markets decreased while Taiwan advanced.

On Wall Street, the Standard & Poor’s 500 additional less than 0.1percent to 2,888.32. The Dow Jones Industrial Average fell 0.1 percent, to 26,143.05.

The U.S. economy gave back some of their previous day’s gains after minutes in the newest Federal Reserve meeting revealed the majority of officials wish to keep interest rates unchanged. Investors need the bank to choose a more laid-back approach to prevent triggering a market slump.

Traders are focused on company earnings reports in hopes of gleaning clues concerning the trajectory of the economy.

Analysts expect firms in the S&P 500 to record that a 3.3% drop in earnings per share from a year before, which would be the very first decrease since the spring of 2016. The anticipated drop in profits is due completely to poorer profit margins.

Brent crude, employed to cost international oils, added 10 cents to $70.93 per barrel in London. It dropped 90 cents the previous session for $70.83.

CURRENCY: The dollar gained to 111.72 yen out of Thursday’s 111.66 yen.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit