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Asian stock markets were mixed on Friday after Wall Street rose as investors analyzed conflicting economic signals ahead of a Federal Reserve conference, reports AP.
Shanghai, Tokyo and Seoul tumbled while Hong Kong advanced.
The Shanghai Composite Index lost less than 0.1 per cent to 3,274.59 and the Nikkei 225 in Tokyo shed less than 0.1 per cent to 28,927.32. The Hang Seng in Hong Kong added 0.4 per cent to 19,838.10.
The Kospi in Seoul shed 0.5 per cent to 2,495.03 while Sydney’s S&P-ASX 200 lost less than 0.1 per cent to 7,110.40.
India’s Sensex opened down less than 0.1 per cent at 60,258.81. New Zealand, Bangkok and Singapore retreated while Jakarta gained.
Investors looked ahead to the Fed’s annual Jackson Hole conference in Wyoming next week for indications of when and how much the US central bank might raise rates.
Wall Street rebounded after corporate results and fewer unemployment claims than expected suggested the US economy has pockets of resiliency despite repeated interest rate hikes.
Investors worry the Fed and central banks in Europe and Asia might derail global economic growth as they hike rates to cool inflation that is running at multi-decade highs.
Bd-pratidin English/Golam Rosul
