· Asian tech shares track Nasdaq gains as inflation fears recede
Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.1%, putting it on track for a 1.9% weekly gain. The gauge’s tech components jumped 0.6% over the day.
The Nasdaq Composite was the big winner, soaring 1.8%, while the Dow Jones Industrial Average posted a 0.6% gain.
European stocks looked set to rally at Friday’s open, with Euro Stoxx 50 futures up 0.4% and FTSE futures rising 0.2%.
· Japanese shares end higher on Wall Street gains, stable U.S. rates
Japanese shares ended higher on Friday, as a strong finish on the Wall Street overnight prompted investors to bet on cheap growth stocks, while stable U.S. interest rates also underpinned sentiment.
The Nikkei share average advanced 0.78% to close at 28,317.83, while the broader Topix rose 0.46% to 1.904.69.
Nikkei, which has been under pressure on concerns over slow economic recovery from the COVID-19 lows due to Japan’s stagnated vaccine rollouts, briefly fell by just over 10% earlier this month from a peak hit in February.
· Indian shares rise as financials rebound, daily COVID-19 cases fall
Indian shares gained on Friday, helped by a rebound in financial stocks ahead of State Bank of India’s quarterly results, and as new coronavirus infections remained below the 300,000 mark for a fifth straight day.
By 0505 GMT, the blue-chip NSE Nifty 50 index had gained 1.17% to 15,080.95, while the benchmark S&P BSE Sensex was up 1.23% at 50,174.02.
Daily coronavirus cases in India have fallen over the past few days after hitting a record of more than 414,000 earlier this month.
· Malaysian shares hit over 6-month low as COVID-19 cases, deaths mount
Malaysian shares fell to a more than six-month low on
Friday, as the country grappled with a record number of COVID-19 deaths and
infections, with the ringgit also touching a 1-1/2-month low even as other
regional currencies gained on a weaker dollar.
The pan-European Stoxx 600 gained 0.3% in early trade, with autos adding 0.9% to lead gains as all sectors except basic resources entered positive territory.
Stocks in Europe received a subdued handover from Asia-Pacific, where markets were mixed on Friday following an overnight bounce on Wall Street led by a rebound in the tech sector. U.S. stock futures are pointing to a flat open later on Friday.
Investors will be monitoring a slew of May’s flash PMI (purchasing managers’ index) readings out of the euro zone and the U.K. on Friday morning for an indication as to the health of the economic recovery across the continent. A flash euro zone consumer confidence reading is published at 3 p.m. London time.
Reference: CNBC, Reuters
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