· Record-breaking stocks take a breather, data weighs on dollar
Stock markets rebounded on Friday following Wall Street’s lead, but were set for their softest week in about a month as investors grapple with tepid economic data and lofty valuations after a huge rally that has wiped out coronavirus losses.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.1% on Friday, as indexes in Korea, Taiwan and Hong Kong repaired Thursday’s losses. However, the broad gauge is poised to end the week barely ahead of where it began.
· Nikkei rebounds on Wall Street tech rally, but posts weekly fall
Technology stocks helped Japanese shares edge higher on Friday, following Wall Street’s overnight rally, although investors taking profits ahead of the weekend capped gains.
The benchmark Nikkei share average closed up 0.17% at 22,920.30, after briefly rising over 1% in early trade.
However, the Nikkei lost 1.58% this week after posting two consecutive weeks of gains.
The broader Topix gained 0.3% to 1,604.06.
· China stocks end week higher; techs retreat ahead of reform measures
China stocks ended higher on Friday and posted a weekly rise, as investors cheered a series of solid corporate earnings, though uncertainty over Sino-U.S. trade talks kept a check on gains.
The blue-chip CSI300 index rose 0.9%, to 4,718.84, while the Shanghai Composite Index added 0.5% to 3,380.68.
For the week, CSI300 was up 0.3%, while SSEC climbed 0.6%.
Investors found some support from a series of strong first-half earnings from Chinese companies as Beijing ramped up stimulus support to revive an economy hammered by the COVID-19 crisis.
· European stocks open higher ahead of key PMIs, after mixed U.S. data
European stocks opened higher Friday ahead of key economic data out of the euro zone and the U.K., as geopolitical tensions remain in focus.
The pan-European Stoxx 600 climbed 0.5% at the start of trading, travel and leisure stocks jumping out to 1.4% gains as all sectors and major bourses entered positive territory.
Reference: CNBC, Reuters
Thai
Eng