Asia-Pacific stock markets concluded Friday’s trading session with a mixed scorecard as investors diligently parsed a wide array of economic data released across the region.
While some major bourses edged higher, others remained flat or dipped, reflecting a cautious and selective investor sentiment. Indian benchmarks, notably the Sensex, bucked any broader indecision, posting strong gains.
The day’s trading was characterized by investors sifting through key economic indicators.
Japan’s benchmark Nikkei 225 rose 0.47% to close at 37,160.47, with the broader Topix index climbing 0.68% to finish at 2,735.52.
In contrast, South Korea’s Kospi traded flat to close at 2,592.09, while its small-cap counterpart, the Kosdaq, edged down 0.24% to end the day at 715.98.
Australia’s S&P/ASX 200 managed a modest gain, closing up 0.15% at 8,360.9.
Meanwhile, Hong Kong’s Hang Seng index and mainland China’s CSI 300 both traded flat, indicating a holding pattern in these key markets.
A diplomatic development saw the US and China agree to maintain communication channels following a call between Chinese Vice Foreign Minister Ma Zhaoxu and US Deputy Secretary Christopher Landau, according to a readout from the Chinese Foreign Ministry on Friday.
Specific economic releases provided further context. Japan’s core inflation accelerated to 3.5% in April, government data revealed on Friday.
This uptick, partly bolstered by surging rice prices, comes as the Bank of Japan considers pausing its rate-hike stance to assess the potential effects of US tariffs.
Investors also processed South Korea’s Producer Price Index (PPI) figures for April and New Zealand’s retail sales data for the first quarter.
Elsewhere, Singapore’s core inflation for April grew by 0.7% year-on-year, a figure higher than the 0.5% climb forecasted by Reuters.
The backdrop from US markets remained a significant influence.
US stock futures were little changed in Asian trading as investors continued to evaluate the impact of elevated US Treasury yields on the broader economy.
Futures tied to the Dow Jones Industrial Average added a mere 14 points, or 0.03%, Nasdaq 100 futures were marginally lower, and S&P 500 futures ticked up 0.03%.
Overnight in the US, the three major averages closed mixed as investors grappled with persistent fears of rising interest rates and concerns about the ballooning US deficit.
The 30-year Treasury yield had touched its highest level since 2023 after lawmakers passed a bill that investors fear could further worsen the US fiscal situation.
On Thursday, the Dow Jones Industrial Average slipped 1.35 points to close at 41,859.09, the S&P 500 lost 0.04% to end at 5,842.01, while the Nasdaq Composite managed to advance 0.28%, settling at 18,925.73.
Indian markets shine: Sensex surges on broad-based gains
In a standout performance, India’s equity benchmark indexes rallied amid a broadly stronger Asian market on Friday.
The positive sentiment was buoyed by an easing in US Treasury yields, coupled with notable gains in information technology and consumer stocks.
By 3:45 PM IST, the BSE Sensex was trading significantly higher by 769 points, or 0.95 percent, at 81,721.08.
Similarly, the NSE Nifty50 was up 243.45 points, or 0.99 percent at 24,853.15, showcasing robust buying interest.
In regulatory news from India, Tuhin Kanta Pandey, Chairperson of the Securities and Exchange Board of India (SEBI), indicated that “some proposals” are being developed to facilitate more secondary listings through instruments like depository receipts.
When pressed for details by CNBC’s Sri Jegarajah, Pandey described it as a “preliminary proposal” at this stage.
Furthermore, SEBI is actively working to make it easier for foreign investors to participate in Indian equities.
This includes the continuation of its Foreign Portfolio Investor (FPI) outreach cell, which is designed to actively engage with FPIs and assist them in navigating the Indian securities market landscape.
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