BANGKOK (AP) — Asian markets saw mixed results on Friday, as Japan’s Nikkei 225 index surged 1.4% to 40,139.90 for the second consecutive day of gains. The yen weakened further following comments by the Bank of Japan governor hinting at a possible delay in interest rate hikes due to economic uncertainties like increased U.S. tariffs on imports. The dollar dipped to 157.66 yen from 158.00 yen, after trading below 150 yen in recent days.
Meanwhile, Hong Kong’s Hang Seng gained 0.1% to 20,120.54, and the Shanghai Composite rose 0.3% to 3,407.89. Conversely, South Korea’s Kospi fell 1.4% to 2,393.60, prompted by political turmoil as the main opposition party motioned to impeach the acting leader over delays in filling Constitutional Court vacancies prior to reviewing rebellion charges against impeached President Yoon Suk Yeol.
In the U.S., market activity remained subdued after the holiday break, with the S&P 500 marginally lower at 6,037.59, ending a three-day winning streak. The Dow Jones Industrial Average inched up 0.1% to 43,325.80, while the Nasdaq composite slipped 0.1% to 20,020.36. Trading volumes were light as U.S. markets resumed post-Christmas.
Tech stocks like Nvidia, Meta Platforms, Amazon, and Netflix experienced declines, with Tesla notably down 1.8%. On the other hand, Broadcom, Micron Technology, and Adobe posted gains. Health care stocks performed well, with CVS Health and Walgreens Boots Alliance leading gains. Retailers including Target, Ross Stores, Best Buy, and Dollar Tree also saw positive momentum.
In other news, U.S.-listed shares of Honda and Nissan surged following reports of potential merger discussions between the two Japanese automakers. Additionally, U.S. unemployment benefit applications remained steady, though continuing claims reached a three-year high.
Looking ahead, Wall Street anticipates upcoming economic reports on pending home sales, home prices, construction spending, and manufacturing activity next week. Crude oil prices showed minor gains, with U.S. benchmark crude rising to $69.69 per barrel and Brent crude to $72.92 per barrel. The euro slipped slightly against the dollar, reaching $1.0412 from $1.0424.
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