Stock market today: Asian stocks are mixed after Wall Street's post-election bonanza wanes
Asian shares are mostly higher after U.S. stocks slipped as the rally following Trump’s election victory cooled further
HONG KONG — Asian stocks were mostly higher on Friday after U.S. stocks slipped as the market’s big rally following Trump's election victory cooled further.
U.S. futures and oil prices were lower.
In Tokyo, the Nikkei 225 index gained 0.3% to 38,642.91. The yen has been weakening against the U.S. dollar, boosting share prices for exporter like Nissan Motor Co., whose shares jumped 4.5% on Friday.
Japan’s economy grew at a 0.9% annual pace in the July-September quarter, higher than the 0.5% increase in the previous quarter, even as the Bank of Japan raised its key interest rate to 0.25% from 0.1% in July. The BOJ said during its October meeting that it plans to continue increasing rates, with a potential target of 1% in the second half of the next fiscal year, which begins in April, if economic activity and prices develop as expected.
The Hang Seng in Hong Kong added 0.1% to 19,454.41 and the Shanghai Composite index dropped 1.5% to 3,330.73 after a report from the National Bureau of Statistics on Friday showed the nation’s retail sales rose 4.8% year-on-year in October, beating forecasts. But industrial output slowed from the previous month and improvements in the property industry were marginal.
Australia’s S&P/ASX 200 gained 0.7% to 8,285.20, while South Korea’s Kospi edged 0.1% lower, to 2,416.86.
On Thursday, the S&P 500 fell 0.6% to 5,949.17, though it’s still near its all-time high set on Monday. The Dow Jones Industrial Average dropped 0.5% to 43,750.86, and the Nasdaq composite sank 0.6% to 19,107.65.
Some of the stocks that got the biggest bump from Trump’s election lost momentum. Tesla
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