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The Asia-Pacific equity markets added gains on Friday, headed for a weekly gain as better than expected numbers from the U.S. tapers the fears of recession.
Japan (NKY:IND) +3.75%, poised for its best week in more than four years with an upbeat risk sentiment. The Japanese yen (JPY:USD) depreciated past 149 per dollar, hitting a two-week low
China (SHCOMP) +0.01%. rising for the second straight session and tracking global peers.
Hong Kong (HSI) +2.05%
Malaysia’s economy expanded 5.9% Y/Y in Q2.
Singapore’s non-oil domestic exports surged 15.7% Y/Y in July.
India (SENSEX) +0.72% gaining for the third straight session, tracking a rally on Wall Street overnight after the retail sales rose more than expected.
Australia (AS51) +1.20%, hitting a two-week high and tracking the broader market rally. The Australian dollar held above $0.66, marching toward three-week highs as Reserve Bank of Australia Governor Michelle Bullock said that despite signs of easing inflation.
Producer input prices in New Zealand jumped by 1.4% Q/Q.
In the U.S., on Thursday, all three major indexes ended higher after economic data and upbeat comments from retail heavyweight Walmart.
U.S. stock futures edged higher on Friday, with a higher probability that the Federal Reserve will reduce interest rates by a quarter-point in September. Dow +0.20%; S&P 500 +0.27%; Nasdaq +0.42%.
Currencies: (JPY:USD), (CNY:USD), (AUD:USD), (INR:USD), (HKD:USD), (NZD:USD).
