Japan’s benchmark Nikkei 225 fell 0.3% to 38,073.98, giving up earlier gains.
Australia’s S&P/ASX 200 fell 1.1% to 7,720.00. South Korea’s Kospi fell 1.1% to 2,715.95.
Hong Kong’s Hang Seng Index rose 1% to 18,504.56, while the Shanghai Composite Index rose 0.7% to 3,150.51.
Price data expected to be released on Saturday will be closely watched to see whether the economy regains momentum.
“Despite efforts, China has been grappling with consumer deflation for almost a year, presenting formidable challenges that the Chinese government has yet to overcome,” said Stephen Innes, managing partner at SPI Asset Management. Stated.
On Thursday, the S&P 500 rose 0.5% to 5,214.08. The Dow Jones Industrial Average rose 0.8% to $39,387.76, and the Nasdaq Composite Index rose 0.3% to $16,346.26.
Reports indicating increased layoffs supported the market. The number of workers applying for unemployment benefits exceeded economists’ expectations last week, but remains relatively low compared to the past.
This could be a sign that the economy can strike the hoped-for balance of remaining strong enough to avoid a deep recession but not so strong as to put upward pressure on inflation.
Equinix soared 11.5% after announcing its latest quarterly profit beat analysts’ expectations. The company, which operates data centers around the world, also said an independent review led by its board of directors found no accounting discrepancies or errors that would require a financial restatement. Earlier, an investment firm had accused the company of “massive accounting manipulation.”
Yeti Holdings rose 12.8% after reporting better-than-expected profits for its latest quarter on strong sales of drinkware, coolers and equipment.
Cheesecake Factory’s profit exceeded expectations and rose 6.2%. The results were encouraging after recent warnings from major food and drink companies about how much pressure their customers, especially those on lower incomes, are feeling.
Airbnb fell 6.9% despite better-than-expected profits and sales. It provided a range of expected earnings for the current quarter, but the midpoint was below analysts’ expectations. The company said much of its business this year was concentrated between the second and first quarters due to the early arrival of Easter.
In the bond market, the yield on the 10-year U.S. Treasury note fell to 4.45% from 4.50% late Wednesday. The two-year Treasury yield, which more accurately reflects expectations for the Fed, fell to 4.81% from 4.84% late Wednesday.
The smooth implementation of the 30-year government bond auction contributed to maintaining stable yields.
Despite continued high inflation this year, Treasury yields have fallen since Federal Reserve Chairman Jerome Powell said last week that the central bank was still closer to cutting than raising key interest rates. It is generally decreasing. Meanwhile, a weaker-than-expected jobs report released Friday suggested the U.S. economy may manage to avoid getting too hot or too cold.
In energy trading, benchmark U.S. crude oil rose 56 cents to $79.82 per barrel in electronic trading on the New York Mercantile Exchange. It rose 61 cents on Thursday. Brent crude, the international standard, added 50 cents to $84.38 a barrel.
In currency trading, the dollar rose slightly from 155.52 yen to 155.72 yen.
Although a weaker yen contributes to an increase in export earnings, it also reduces purchasing power, which is both a boon and a cause for concern for Japan. Expectations are rising that the Bank of Japan will start raising interest rates, but it is unclear exactly how much and when they will raise interest rates. A year ago, the dollar was around 130 yen.
The euro fell to $1.0742 from $1.0748.
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AP Business Writer Stan Cho contributed.
Credit: AP
Credit: AP
Credit: AP
Credit: AP
Credit: AP
Credit: AP
Credit: AP
Credit: AP
