HONG KONG (AFP) – Asian markets were mixed Friday a profit-taking offset another record close for the Dow on Wall Street, while Tokyo reversed morning losses to end on a high as the dollar broke the 116 yen barrier.
The generally upbeat outlook provided support and capped any losses, while attention will turn to this weekend’s G20 summit and the release Monday of Japanese growth data.
Tokyo added 0.56 per cent, or 98.04 points, to 17,490.83 – its highest since July 2007 – and Sydney rose 0.21 per cent, or 11.60 points, to 5,454.3, while Seoul fell 0.78 per cent, or 15.37 points, to close at 1,945.14.
In the final trading session before the launch of a cross-exchange connection, Shanghai ended 0.27 per cent, or 6.78 points, lower at 2,478.82 while in the late afternoon Hong Kong gained 0.28 per cent, or 67.44 points, to 24,087.38.
After a turbulent October, global equities have enjoyed a strong run this month, largely helped by the Bank of Japan’s decision to ramp up its stimulus programme to kick-start an anaemic economy.
Traders were given a positive lead from Wall Street, where the Dow added 0.23 per cent to hit another all-time high, while the S&P 500 rose 0.05 per cent but fell short of another record. The Nasdaq put on 0.11 per cent.
US shares have notched up numerous records this year in response to a stream of figures showing the world’s biggest economy is well on track for recovery.
The strong US economy and the BoJ’s easing have also helped push the dollar higher and on Friday it hit 116.27 yen, its highest since late 2007 and well up from 115.75 yen in New York late Thursday.
The euro fetched $1.2451 and 144.80 yen compared with $1.2476 and 144.42 yen.