U.S. Markets closed

Asian Markets Mixed After Wall Street Reaches All-Time Highs

Investing.com - Stocks in Asia were mixed on Friday in Asia after U.S. equities rose to fresh all-time highs overnight.

China’s Shanghai Composite was little changed at 10:30 PM ET (02:30 GMT), while the SZSE Component was down 0.3%.

Hong Kong’s Hang Seng Index dropped 0.1%.

Chinese stocks rose yesterday amid news of policy support from China’s central bank to lift its economy. Reports that U.S. President Donald Trump said earlier this week the first phase of Sino-U.S. trade deal will be signed this month also provided continuous support to the markets this week.

“We’ve seen some green shoots on the macro side, and most importantly, central banks have really turned supportive for the markets,” Adrian Zuercher, head of Asia asset allocation at UBS Private Banking in Hong Kong, told Bloomberg in an interview. “You want to look for risky assets and equities are probably the cheapest place to play that, and therefore we’re risk-on.”

South Korea’s KOSPI gained 2.1% as chipmaker SK Hynix jumped 2%. Shares of Apple (NASDAQ:AAPL) suppliers saw gains today after the iPhone maker surged 2.3% to a record $300.26 a share.

Japan’s Nikkei 225 remained closed for holidays. Nissan Motor Co., Ltd. (T:7201) made headlines after news that former boss Carlos Ghosn was smuggled out of Tokyo by a private security company days ago.

Ghosn has said he would talk to reporters next week.

Japan does not have an extradition treaty with Lebanon, which has said there was no reason to take action against Ghosn when he entered the country.

Down under, Australia’s ASX climbed 0.7%.

In the U.S., Wall Street jumped to all-time highs as the Dow Jones Industrial Average soared 330.36 points, while the S&P 500 ended its trading day 0.8% higher and the Nasdaq Composite added 1.3%. The Federal Open Market Committee minutes will be released later in the day.

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