Mixed Reactions in the Asian Market Ahead of the Weekend

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Mixed Reactions in the Asian Market Ahead of the Weekend
Mixed Reactions in the Asian Market Ahead of the Weekend

With markets in the U.S. and Australia closed today in the event of Good Friday, the Asian equities are showing mixed reactions, with traders witnessing a sluggish session, low on risk, before the weekend. In news related to Japan, the Statistics Bureau stated that Japan’s unemployment had recorded a slight increase in the previous month to a value of 4.3% from 4.2%, which contrasted the general expectations among analysts for the number to maintain its value without any change. Japan’s national core CPI slid to a position of -0.3% in February from a value of -0.2% in January, as per data from the Statistics Bureau. Analysts had predicted the core CPI to drop to -0.4% previous month.

A closer look at the Asian market on Friday revealed that Japan’s Nikkei 225 slipped 0.02% following announcements from Japan’s Statistics Bureau that Japanese household spending had decreased to a value of 0.8% in February from a value of 2.4% in January. Analysts had however, anticipated that Japanese household spending to come down to a value of 0.2% last month. Hong Kong’s Hang Seng recorded a fall 0.74% whereas the Shanghai Composite increased 0.30%. Shanghai shares bounced back subsequent to declining the most over the last three weeks on Thursday after the stumble of bank stocks.

Singapore’s Straits Times Index recorded declining trends and is down 0.15%. S&P 500 futures are at a higher position by 0.05% one day after it was seen that the benchmark index reached a new record high. South Korea’s Kospi was seen to have advanced 0.68% following the statements from the Korean National Statistical Office that South Korean industrial production had come down to a rate of -9.3% in February as compared to the reading of 7.6% seen in the month of January. The reading in January was revised up from 7.3%. Analysts had projected South Korean industrial production to decline to -5% previous month.

One day after official data indicated that building consents in New Zealand climbed 1.9% in February, following a 0.2% fall in the preceding month, it was observed that New Zealand’s NZSE 50 increased 0.24%. Activity in NZD/USD could also be observed to be moving slow.