Asian stocks ease, data drags dollar
Asian share markets advanced on Friday, tracking Wall Street’s rally. However, they are set to hit a subdued week in about a month as investors grapple with weak economic data and intensive valuations following a prosperous performance that has salvaged virus-led losses.
MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.6%. While the index gained, it is still poised to break its four-week winning streak with a small weekly decline.
Japan’s benchmark index Nikkei hiked 0.3% but is set to record a 1.5% weekly drop. A bond market selloff had eased as market sentiment was dragged after the S&P 500 reached an intraday high.
A positive session in tech-related stocks sent the Nasdaq to a new all-time high record. Meanwhile, futures for the S&P 500 gained 0.2%, FTSE futures performed steadily, and European futures tallied a 0.3% earning.