Japan’s Nikkei 225 came close to surpassing the 40,000 level, leading the gains in Asian stocks on Friday. The index achieved a fresh record high, closing 1.9% higher at 39,910.82. The broader Topix index also experienced a positive trend, adding 1.3% to reach 2,709.42 by the end of the session, marking a weekly increase of 1.8%.
Official data revealed that China’s February manufacturing PMI stood at 49.1, aligning with the forecast from a Reuters Poll. Additionally, the private Caixin manufacturing final PMI came in slightly higher at 50.9 compared to the previous month’s 50.8.
The China CSI 300 closed 0.6% higher at 3,537.8, building on gains from the previous session where it surged almost 2%. For the week, the index recorded a 1.4% increase.
Despite a slight weekly decline of 0.9%, Hong Kong’s Hang Seng index saw a 0.4% rise.
Australian S&P/ASX 200 Records 0.6% Increase, Closing at 7,745.60; Weekly Gain Stands at 1.3%” “South Korea Markets Remain Closed for Movement Day Holiday as Australian S&P/ASX 200 Posts 0.6% Rise.
Nasdaq Composite Hits First Closing Record Since November 2021; S&P 500 Also Notches New High as Tech and Chip Stocks Rally.
The Nasdaq Composite achieved its first closing record since November 2021 on Thursday, driven by a rally in tech and chip stocks. The tech-heavy index closed with gains of 0.90%, reaching an all-time high of 16,091.92. Meanwhile, the S&P 500 also closed at a record high, rising 0.52% to hit 5,096.27. The Dow Jones Industrial Average saw a slight uptick of 0.12%.
Overnight data indicated that U.S. inflation rose in line with expectations in January, based on a key gauge used by the Federal Reserve to assess inflation. The personal consumption expenditures price index, excluding food and energy costs, increased by 0.4% in January and by 2.8% from a year earlier, matching the consensus estimates.