Asian stocks flat as Wall Street falls a fifth day
Wall Street that dragged US stocks lower for a fifth day, underscoring a cautious start to the year.
Shares in Australia and South Korea edged higher, as did US equity futures, after the S&P 500 and Nasdaq 100 both fell on Thursday. Equity trading in Japan is closed for a holiday.
The fall for US stocks accompanied a rally in the dollar, a popular haven, which set a fresh two-year high Thursday and opened little changed Friday. The yen climbed in early trading after a third daily decline against the greenback in the prior session.
The moves are a sign the selling that has sapped US equities over the past week may be starting to turn. Investors are preparing to implement asset-allocation strategies for the year ahead after a rocky end to 2024.
Australian and New Zealand government yields were little changed after a flat day for Treasuries Thursday. The US 10-year yield fell one basis point in the session. Trading in Treasuries in Asia is closed given the holiday in Japan.
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