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Asian stocks gave up early gains to end mixed on Friday as tariff-related worries offset encouraging tech earnings and positive U.S. economic data.<\/p>\n
The dollar index pulled back slightly after Federal Reserve Governor Christopher Waller said policymakers should cut interest rates this month to counter rising growth and job market risks. <\/p>\n
Gold edged up slightly on dollar weakness while oil held a gain on brewing Middle East tensions and data signaling strong U.S. demand. <\/p>\n
China’s Shanghai Composite index rose half a percent to 3,534.48 amid expectations the government may roll out more stimulus to boost domestic demand. <\/p>\n
Meanwhile, according to a statement from the Chinese commerce ministry released today, China has called on the United States to abandon zero-sum thinking and continue to lift “unjustified” trade and economic restrictions. <\/p>\n
Hong Kong’s Hang Seng index rallied 1.33 percent to 24,825.66 buoyed by a positive outlook from Taiwan Semiconductor and strong earnings from Netflix.<\/p>\n
Japanese stocks ended slightly lower and government bond yields dropped across maturities as data showed Japan’s core inflation rate fell to 3.3 percent in June after hitting a 29-month high. Investors also braced for the closely watched election this weekend. <\/p>\n
The Nikkei average dipped 0.21 percent to 39,819.11 while the broader Topix index settled 0.19 percent lower at 2,834.48.<\/p>\n
Seoul stocks closed lower as investors waited for second-quarter earnings results from major companies and eyed further developments in U.S. trade policy. <\/p>\n
The Kospi average slipped 0.13 percent to 3,188.07. Shipbuilder HD Hyundai fell 2.2 percent and national flag carrier Korean Air lost 1 percent. <\/p>\n
Australian stocks hit a record high as higher commodity prices boosted mining stocks. The benchmark S&P\/ASX 200 jumped 1.37 percent to 8,757.20 while the broader All Ordinaries index ended up 1.30 percent at 9,006.80.<\/p>\n
Across the Tasman, New Zealand’s benchmark S&P\/NZX-50 index dipped 0.19 percent to 12,880.40, halting a three-day rally. <\/p>\n
U.S. stocks advanced overnight as PepsiCo and United Airlines reported earnings that beat estimates and upbeat jobless claims and retail sales data portrayed economic resilience.<\/p>\n
The tech-heavy Nasdaq Composite and the S&P 500 climbed 0.8 percent and half a percent, respectively to reach new record closing highs, while the narrower Dow gained half a percent. <\/p>\n<\/p>\n
Business News<\/p>\n<\/div>\n