Asian markets experienced a mix of movements on Friday, with U.S. stocks nearing their record highs after economic reports that met expectations.
Japan’s Nikkei 225 fell by 0.7% as industrial production showed signs of improvement. Meanwhile, Hong Kong’s Hang Seng rose by 0.8% and Shanghai Composite was down by 0.5% following news of a rise in retirement age in China.
China is expected to release its monthly economic data soon, with predictions of a slowdown in key indicators.
Elsewhere, Australia’s S&P/ASX 200 and South Korea’s Kospi saw slight gains.
In the U.S., the S&P 500, Dow Jones Industrial Average, and Nasdaq composite all rose. Nvidia was a strong performer, lifting the S&P 500.
Reports on inflation and unemployment benefits influenced market expectations for the upcoming Fed meeting.
In the bond market, the 10-year Treasury yield edged up, while mortgage rates hit a 19-month low.
Energy trading saw gains in benchmark U.S. crude and Brent crude prices.
The euro also saw a slight increase in value.
Original article by AP Business Writers Stan Choe contributed from New York.