Asian equities were mixed on Friday following another record finish for the S&P 500 overnight and economic data from Japan. The S&P 500 index hit another all-time high on Thursday as investors shrugged off a weak gross domestic product (GDP) reading. Revised GDP for the first quarter contracted by 1 percent, marking its worst performance in three years. Global bond yields remain in focus after benchmark US Treasury yields fell to eleven-month lows while German bond yields traded at one-year lows. China’s Shanghai Composite was down 0.55 point to 2,040.04 and Japan’s Nikkei 225 Average fell 30.89 points to 14,650.83. Singapore’s Straits Times declined 11.03 points to 3,289.68. However, Hong Kong’s Hang Seng rose 38.68 points to 23,048.82 and South Korea’s Seoul Composite advanced 0.20 point to 2,012.46. Taiwan Weighted was up 8.25 points to 9,117.25, at 8:00 hours IST.
ASIAN MARKET UPDATE