Key points
- Hong Kong stocks led most of Asia
- There were also gains in Shanghai, Sydney, Singapore, Taipei, Manila and Jakarta
- Japanese investors were a little more anxious after rice price hike
HONG KONG: Asian markets headed into the weekend on a broadly positive note Friday, as investors took up New York’s latest record highs sparked by healthy US retail data and upbeat earnings from some of Wall Street’s big names.
AFP reported that the readings helped divert attention away from Donald Trump’s tariffs saga, with dozens of countries yet to cut deals with the US president two weeks before his August 1 deadline.
Japanese investors
However, Japanese investors were a little more anxious after news that rice prices once again doubled in June, compounding problems for Prime Minister Shigeru Ishiba ahead of weekend elections in which the grain has been a hot topic.
The Nasdaq and S&P scaled fresh peaks Thursday after figures showed US retail sales rose more than expected last month and reversed May’s decline, indicating the world’s top economy remains in good health. Another modest jobless claims report provided extra assurance.
Hong Kong stocks led most of Asia higher thanks to tech leaders, while there were also gains in Shanghai, Sydney, Singapore, Taipei, Manila and Jakarta. Seoul and Wellington dropped, according to AFP.
Earlier, CNBC reported on July 16 that Asia markets ended the trading day mostly lower.
