Asia-Pacific stock indexes fell in early trading on Friday, taking a cue from overnight stock volatility on Wall Street ahead of the release of euro zone PMI data and a speech by a senior Federal Reserve official.
The Nikkei average was up 6.49 points, or 0.02%, to 38,639.51, while the KOSPI was down 21.62 points, or 0.77%, to 2,786.01 as of 6:48 a.m.
U.S. tech stocks were buoyed by a continuing AI boom and robust economic growth that should continue to support corporate earnings, but the S&P 500 lost steam after briefly hitting a new record high above 5,500 points.
The S&P 500 and Nasdaq Composite indexes were down 0.25% and 0.79%, respectively, as of Thursday. The Dow Jones Industrial Average was up 0.77%.
Brent crude oil was down 0.09% to trade at $85.62 a barrel. Gold rose 0.02% to $2,360.62 an ounce.
GIFT Nifty was trading down 34.5 points or 0.15 per cent at 23,593.00 as of 6:49 am.
The NSE Nifty 50 recovered from the previous day’s losses and the S&P BSE Sensex recorded its first gain in four months to close at its highest, with Reliance Industries and private sector banks leading the gains.
Nifty rose 51 points or 0.22 percent to end at 23,567 and Sensex gained 141.34 points or 0.18 percent to end at 77,478.93. Intraday, both the indices rose over 0.4 percent.
Overseas investors continued their buying of shares for the fourth consecutive day on Thursday. Foreign portfolio investors bought shares worth Rs 4,153 crore, while domestic institutional investors turned net sellers after buying and selling shares worth Rs 3,258.1 crore in three days, according to provisional data from the National Stock Exchange.
The Indian currency fell by 20 paisa to close at an all-time low of 83.65 paisa against the US dollar.
