Asian markets showed mixed movements on Friday, influenced by new economic data from China and Japan as well as a drop on Wall Street. Federal Reserve Chair Jerome Powell’s comments about taking a cautious approach to rate cuts amid strong U.S. growth added to investor uncertainty.
China’s economic data presented a varied picture: retail sales in October exceeded expectations, but industrial production and investment figures fell short. The unemployment rate in urban areas slightly improved, dropping to 5% from 5.1% in September.
Japan’s GDP grew 0.3% year-on-year in Q3, ending two quarters of year-on-year declines. This economic resilience supported Japan’s Nikkei 225, which rose 0.28%, while the broader Topix index climbed 0.39%. The yen strengthened marginally against the U.S. dollar following the GDP release.
Hong Kong’s Hang Seng index edged up 0.04% near the close, but mainland China’s CSI 300 index dropped 1.75%. In South Korea, the Kospi ended slightly lower despite a 7.21% surge in Samsung Electronics shares, while the Kosdaq small-cap index gained 0.57%. Australia’s S&P/ASX 200 rose by 0.74%.
In the U.S., the Dow, S&P 500, and Nasdaq all fell, with “Trump trades” cooling off. Tesla dropped 5.8%, and the Russell 2000 small-cap index underperformed, sliding more than 1%.
