Asia report: Most markets higher as oil prices slip
Most markets in Asia were higher on Friday, with traders in the region taking their cues from a solid session on Wall Street overnight, as oil prices gave up some of their gains seen earlier in the week.
AUD/USD
$0.6533
23:03 26/04/24
Auden Ag Inh.Eo 1
€0.00
07:46 20/03/24
GBP/NZD
NZD2.1025
23:53 26/04/24
Hang Seng
17,651.15
10:20 26/04/24
Nikkei 225
37,934.76
09:44 26/04/24
USD/JPY
¥158.3270
01:54 27/04/24
In Japan, the Nikkei 225 was up 1.16% at 22,758.48, as the yen strengthened 0.12% against the dollar to last trade at JPY 109.27.
The broader Topix added 0.98%, with gains seen across a number of sectors in Tokyo as investors cheered a raft of solid earnings reports.
It was a different story for the mining subindex, however, which lost 3.81%.
Suzuki Motor surged 8.96% after the car manufacturer reported full-year operating profit well ahead of expectations.
On the mainland, the Shanghai Composite slid 0.36% to 3,162.85, and the smaller, technology-heavy Shenzhen Composite lost 1.03% to settle at 1,825.14.
South Korea’s Kospi was 0.55% higher at 2,477.71, while the Hang Seng Index in Hong Kong rose 1.02% to 31,122.06.
Seoul’s gains were driven by the technology and carmaking sectors, even as tech giant Samsung Electronics slipped 0.58%.
Hong Kong-based conglomerate CK Hutchison was ahead 1.15% one day after Victor Li took the chairman reins from his father, Li Ka-shing.
Oil prices spent much of the session falling, but were mixed as the region went to bed, with Brent crude last down 0.05% at $77.43 per barrel and West Texas Intermediate rising 0.21% to $71.51.
Prices rose markedly earlier in the week, after US President Donald Trump fulfilled an election promise by pulling the US out of the Obama-brokered Iran nuclear deal.
In Australia, the S&P/ASX 200 slipped 0.04% to 6,116.20, with the hefty financials subindex and the energy sector dragging on the market.
Miners were higher by end-of-play in Sydney, however.
AMP fell behind its banking peers, falling 5.81% after its stock was downgraded to ‘neutral’ from ‘outperform’ by Macquarie.
Across the Tasman Sea, New Zealand’s S&P/NZX 50 rose to a fresh record high, adding 0.5% to 8,676.69.
Wellington’s benchmark was once again led higher by the retirement housing sector, with Ryman Healthcare up 2.7%, Arvida Group ahead 1.7% and Metlifecare adding 1.5%.
Both of the down under dollars were stronger on the greenback, with the Aussie last ahead 0.32% at AUD 1.3232 and the Kiwi advancing 0.28% to NZD 1.4323.
The New Zealand dollar had weakened sharply on Thursday, after the country’s Reserve Bank stood pat on interest rates at 1.75%.