Most Asian markets rose in early trading on Monday after data showed Japan’s economy shrank more than expected in the first quarter.
As of 6:46 a.m., the Nikkei average was up 186.92 points, or 0.48%, to 38,870.85, while the Korea Composite Stock Price Index was down 26.21 points, or 0.96%, to 2,696.46.
The world’s largest bond market was hit after strong U.S. employment data led traders to scale back expectations of a Federal Reserve interest rate cut, Bloomberg reported.
The S&P 500 and Nasdaq Composite indexes were up 0.11% and 0.23%, respectively, as of Friday. The Dow Jones Industrial Average was down 0.96%.
Brent crude oil rose 0.02% to trade at $79.64 a barrel. Gold rose 0.07% to $2,295.42 an ounce.
GIFT Nifty was up 33 points or 0.14 per cent at 23,290.50 as of 6:47 am.
India’s major equity indexes recovered from losses on settlement day to hit record highs on Friday as major stocks led the gains: the NSE Nifty 50 ended 468.75 points, or 2.05 percent, at 23,290.15, while the S&P BSE Sensex rose 1,618.85 points, or 2.16 percent, to 76,693.36.
Overseas investors turned net buyers on Friday after selling for three consecutive sessions. Foreign portfolio investors bought shares worth Rs 4,391.02 crore, while domestic institutional investors turned net sellers after two buying sessions, selling shares worth Rs 1,289.75 crore, according to provisional data from the National Stock Exchange.
The Indian currency rose 10 paisa to 83.37 against the US dollar.
