Stock indexes in the Asia-Pacific region recovered Friday’s losses and rose, led by China’s loan prime rate.
As of 6:33 a.m., the Nikkei 225 was trading at 37,295.03, up 226.68 points or 0.61%, and the KOSPI index was trading at 2,607.16, up 15.30 points or 0.59%.
The People’s Bank of China will release one-year and five-year loan prime rates on Monday, with particular emphasis on the latter, which is closely related to many real estate mortgages.
Traders remain wary of geopolitical risks ahead of the weekend, with declines in big tech stocks putting the U.S. stock market under fresh pressure, Bloomberg said.
As of Friday, the S&P 500 and Nasdaq Composite were down 0.88% and 2.05%, respectively. The Dow Jones Industrial Average rose 0.56%.
Brent crude oil was trading 0.50% lower at $86.85 per barrel. Gold fell 0.40% to $2,382.35 an ounce.
Gift Nifty was trading 6.5 points or 0.03% higher at 22,210.00 as of 6:34 am.
India’s benchmark index ended higher on Friday, reversing four consecutive days of losses, with index heavyweights HDFC Bank and Bajaj Finance rising. But concerns over the continuing conflict between Israel and Iran soured investor sentiment, with the index posting its worst weekly decline in a month.
NSE Nifty 50 rose 151.15 points or 0.69% to settle at 22,147.00 and S&P BSE Sensex rose 599.34 points or 0.83% to end at 73,088.33.
Foreign investors turned net buyers in Indian stocks on Friday after four days of selling. Foreign portfolio investors bought up shares worth Rs 129.4 million. Domestic institutional investors turned net sellers in seven days, selling shares worth Rs 5,250 crore, according to NSE data.
The Indian rupee appreciated by 7 paise to close at $83.47 against the US dollar.
