Asia-Pacific markets were mixed on Friday as rising bond yields continue to put pressure on equities in the wake of the U.S. credit downgrade.
In Japan, the Nikkei 225 index recovered from days of heavy losses, gaining 33.47 points, or 0.1%, to 32,192.75.
In Hong Kong, the Hang Seng restocked 118.59 points, or 0.6%, to 19,539.46.
Singapore’s retail sales rose 1.1% year on year in June, marking the fourth straight month of slowing growth.
Excluding motor vehicles, retail sales increased 2.5%, compared with 1.7% rise in May.
Singapore’s statistics department said most industries recorded year-on-year growth in sales in June 2023, with the largest change coming from the food and alcohol industry.
Australian markets surpassed the breakeven point, the Reserve Bank of Australia cut the growth outlook for the country in 2023, but said inflation was “moving in the right direction.”
In other markets
In China, the CSI 300 surged 15.6 points, or 0.4%, to 4,020.58.
In Singapore, the Straits Times Index sank 20.96 points, or 0.6%, to 3,304.06.
In Taiwan, markets returned to trading after a holiday, with the Taiex index falling 50.05 points, or 0.3%, to 16,843.68.
In Korea, the Kospi Index retreated 2.59 points, or 0.1%, to 2,602.80.
In New Zealand, the NZX 50 nicked ahead 6.58 points, or 0.1%, to 11,943.20.
In Australia, ASX 200 recovered 13.66 points, or 0.2%, to 7,325.34.
