By Investors Hub
Asian stocks turned in a mixed performance on Friday as trade war tensions and the prospects of a no-deal Brexit threatened to deepen the risks to global growth.
The oil markets held steady, while the dollar remained buoyant after U.S.-China trade talks ended without any tangible results.
Investors looked ahead to U.S. Federal Reserve Chairman Jerome Powell’s big Jackson Hole speech later today for the Fed?s views on Turkey’s currency crisis and the U.S.-Chinese trade spat.
Chinese stocks fluctuated before closing higher, led by banks. The benchmark Shanghai Composite Index rose 4.81 points or 0.2 percent to 2,729.43, while Hong Kong’s Hang Seng Index shed 118.59 points or 0.4 percent to end at 27,671.87.
Japanese shares rose for a fourth straight session as the yen remained weak and a government report showed the country’s annual inflation stalled in July, raising speculation the Bank of Japan may delay its exit from ultra-loose policy.
The Nikkei 225 Index climbed 190.95 points or 0.9 percent to 22,601.77, a more than two-week high. For the week, the index jumped 1.5 percent to snap a three-week losing streak. The broader Topix Index closed 0.7 percent higher at 1,709.20.
Drugmaker Eisai rallied 2.7 percent on receiving European Commission approval for the oral receptor tyrosine kinase (RTK) inhibitor Lenvima (lenvatinib).
Chugai Pharmaceutical advanced 2.4 percent and Daiichi Sankyo gained 2.8 percent.
Australian shares reversed earlier losses to finish little changed after government lawmakers elected Treasurer Scott Morrison as the next prime minister, ending a week of political uncertainty.
The benchmark S&P/ASX 200 Index ended up by 2.90 points at 6,247.30, snapping a three session losing streak. The broader All Ordinaries Index dipped 2.40 points to close at 6,357.90.
Healthcare stocks benefited from the recent softening of the Aussie dollar, with CSL climbing 2.9 percent and Cochlear adding 1 percent.
Lender Westpac fell 2.4 percent after reporting a steep drop in quarterly margins, while the other three banks ended on a mixed note. Mining stocks also ended mixed, with Fortescue Metals Group losing 1.5 percent.
more recommended stories
Guinea Insurance Seeks More Time to File FY 2018, Q1 2019 Results
By Dipo Olowookere The management of.
FarmCrowdy, Livestock247 Partner to Boost Trading
A partnership aimed to deepen the.
Why You Should Consider Investing in Eurobond Funds
By United Capital Research Last week,.
Zedcrest Capital’s Amzat, Others to Speak at Lagos FINTECH Week
Group Managing Director of Zedcrest Capital.
Buhari to Empower 10m Traders, Farmers During Second Term
By Modupe Gbadeyanka No fewer than.
Africa Prudential Considers New Ventures to Improve Earnings
By Modupe Gbadeyanka Managing Director/CEO of.
Team Ren Excalibur Wins Renmoney’s Hackathon
By Modupe Gbadeyanka One of Nigeria’s.
Unilever Nigeria Revenue Drops to N19bn in Q1 2019
By Dipo Olowookere Lagos-based Fast-Moving Consumer.