Asian markets showed mixed performances on Friday, with Chinese technology stocks gaining while most other regional equities declined, reports AP.
Japan’s benchmark Nikkei 225 fell 0.72% in afternoon trading to 38,787.02. Australia’s S&P/ASX 200 edged down 0.11% to 8,511.40, while South Korea’s Kospi dropped 0.58% to 2,521.92. Meanwhile, Hong Kong’s Hang Seng gained 0.91% to 21,081.72, and the Shanghai Composite rose 1.01% to 3,303.67.
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Chinese tech stocks in Hong Kong appeared set to enter a bull market, driven by renewed investor interest following AI model releases from DeepSeek. Xiaomi’s stock climbed 4.81% to 42.50 Hong Kong dollars, Alibaba gained 1.57% to 100.10 Hong Kong dollars, and Tencent, China’s largest video game company, rose 1.57% to 427 Hong Kong dollars.
Japan’s Nikkei could face further pressure due to a stronger yen. According to IG market strategist Yeap Jun Rong, a sharp rise in January’s household spending has reinforced expectations of future rate hikes by the Bank of Japan.
“With both headline and core inflation accelerating over the past two months, the case for additional policy responses to curb pricing pressures remains strong,” Yeap noted.
On Wall Street, the S&P 500 advanced 0.36% on Thursday, while the Dow Jones Industrial Average slipped 0.28% and the Nasdaq composite increased 0.51%.
Investors are also navigating uncertainties related to U.S. President Donald Trump’s tariff policies. While Trump signed executive orders imposing 25% tariffs on Mexico and Canada, concerns over a global trade war have slightly eased after both countries received a 30-day reprieve, suggesting tariffs may be used as a negotiating tool rather than a long-term strategy.
However, Trump proceeded with a 10% tariff on Chinese goods, prompting China to retaliate with levies on U.S. coal, liquefied natural gas, crude oil, agricultural machinery, and large-engine cars. Additionally, China launched an antitrust probe into Google and added two more firms to its unreliable entity list.
In energy markets, benchmark U.S. crude rose 37 cents to $70.98 per barrel, while Brent crude, the global benchmark, gained 47 cents to $74.76 per barrel.
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In currency trading, the U.S. dollar edged up to 151.85 Japanese yen from 151.35 yen, while the euro slipped slightly to $1.0380 from $1.0383.