Asia stocks were mostly lower on Friday, with U.S. futures and oil prices on the rise. In Tokyo, the Nikkei 225 index saw gains, while Hong Kong’s Hang Seng index declined. China’s trade data for March is set to be released later in the day.
The resilience of Asian equities amidst a stronger U.S. dollar and China’s deflationary challenges is noteworthy, according to Stephen Innes, managing partner at SPI Asset Management.
In the U.S., the S&P 500 and Nasdaq composite made gains, with Big Tech stocks like Apple and Nvidia leading the charge. The Dow Jones Industrial Average lagged behind, slipping slightly.
The bond market, which has been driving much of Wall Street’s action, saw relatively steady Treasury yields following mixed data on inflation and the U.S. economy.
Traders are eagerly awaiting news on potential interest rate cuts from the Federal Reserve, with expectations shifting throughout the year. Reports on inflation and the job market continue to influence market sentiment.
In the commodity market, benchmark U.S. crude and Brent crude prices saw increases in electronic trading. Currency trading saw the euro slightly lower against the dollar.
Overall, the market remains volatile as investors navigate economic data and global events impacting stock prices.
