Asian stocks showed a mixed performance on Friday, influenced by various factors including the latest U.S. update on inflation. The Japanese yen experienced fluctuations, losing some gains against the U.S. dollar but later regaining some ground. This movement sparked speculation about potential intervention by Japanese authorities.
In the stock markets, Tokyo's Nikkei 225 index declined by 2.5%, while Hong Kong's Hang Seng index rose by 2.4% and China's Shanghai Composite index saw a slight increase. Data revealing an 8.6% growth in China's exports for June surpassed market expectations.
Australia's S&P/ASX 200 was up by 0.9%, but South Korea's Kospi slipped by 1.4%. In other regions, Bangkok's SET edged 0.2% higher, while Taiwan's Taiex declined by 2%, with Taiwan Semiconductor experiencing a 1.9% drop.
On Wall Street, the S&P 500 index saw gains in four out of every five stocks, although declines in tech giants like Nvidia and Microsoft led to a 0.9% decrease from its all-time high. The Nasdaq composite also dropped by 2% from its record, breaking a seven-day winning streak.
The Dow Jones Industrial Average, less tech-focused, rose slightly. Housing-related companies and real estate owners benefited from expectations of lower interest rates, with SBA Communications experiencing a notable 7.5% gain.
Following the U.S. inflation report, Treasury yields fell significantly, with the 10-year Treasury yield dropping to 4.20%. This move, along with expectations of a Federal Reserve rate cut, boosted stock prices. The S&P 500 closed down by 0.9%, the Dow rose by 0.1%, and the Nasdaq composite dropped by 2%.
In the oil market, U.S. benchmark crude oil gained 57 cents to reach $83.19 per barrel, while Brent crude rose to $85.83 per barrel. The euro also saw a slight increase against the dollar.
