Night view of Shanghai, China
S3 Studios | Getty Images Entertainment | Getty Images
Asian markets were mixed on Friday as Wall Street fell after Fed Chairman Powell The central bank said The Federal Reserve is in no rush to cut interest rates, and investors are also assessing economic data from China and Japan.
In a speech in Dallas, Powell noted that strong U.S. economic growth will allow policymakers to comfortably decide how much and how quickly to cut interest rates.
In Asia, investors on Friday assessed key economic data from China, which included October retail sales, industrial production and urban unemployment figures.
China’s retail sales rose more than expected in October, while industrial production and investment data fell short of expectations.
The urban unemployment rate fell to 5% in October, down from 5.1% in September.
Hong Kong Hang Seng Index As of the last hour of trading, the CSI 300 Index fell 1.75% to close at 3,968.83 points, up 0.04%.
In addition, Japan announced on Friday that its third-quarter GDP increased by 0.3% annually, ending two consecutive quarters of decline from the same period last year. On a quarterly basis, GDP grew 0.2%, in line with expectations in a Reuters poll.
Japanese Nikkei 225 Index After the GDP announcement, the stock rose 0.28% to close at 38,642.91 points, while the Composite Index rose 0.39% to close at 2,711.64 points. The yen strengthened slightly to 156.19 against the dollar, with initial weakness following the GDP release.
Korean Cospi The Kosdak index fell slightly to close at 2,416.86 points, although shares of heavyweight Samsung Electronics rose 7.21%, while the small-cap Kosdaq index rose 0.57% to close at 685.42 points.
Australian S&P/ASX 200 Index It rose 0.74% to close at 8,285.2.
All three major U.S. stock indexes fell overnight Dow Jones Industrial Average down 0.47%.
this S&P 500 Index fell 0.6%, while Nasdaq Index Retracement of 0.64%.
As the market rally cooled, the so-called “Trump trade” also lost steam. Tesla fell 5.8%, while the small-cap benchmark Russell 2000 It fell more than 1%, underperforming the major averages.
—CNBC’s Brian Evans and Sarah Min contributed to this report.
