Stock market today: World stocks track Wall Street gains, Japan shares hit record high
Japanese stocks have again set a record, a day after U.S. stocks climbed to all-time highs
HONG KONG — Japanese stocks again set a record on Friday, after U.S. stocks climbed to all-time highs the previous day, European markets also went up ahead of euro zone inflation data.
The future for the S&P 500 was up 0.1% while that for the Dow Jones Industrial Average dropped 0.1%.
Germany’s DAX added 0.4% to 17,746.65. In Paris, the CAC 40 edged less than 0.1% lower to 7,921.31 and London’s FTSE 100 was up 0.5% at 7,670.35.
In Asia market, Tokyo’s Nikkei 225 jumped 1.9% and ended at 39,940,00. In late February, the index passed the record of 38,915.87 it set at the heights of financial euphoria in 1989, before a financial bubble burst and ushered in an era of faltering growth.
Japan’s unemployment rate dropped to 2.4% in January, from a revised 2.5% recorded in the previous month, but the purchasing managers index for manufacturing activity fell to 47.2 in February, showing depressed demand in domestic and international markets.
A PMI reading under 50 represents a contraction compared to the previous month.
Hong Kong’s Hang Seng was up 0.5% to 16,589.44, and the Shanghai Composite index added 0.4% to 3,027.02.
China’s manufacturing activity contracted for the fifth consecutive month in February with a reading of 49.1, according to the National Bureau of Statistics, while the unofficial Caixin PMI provided a more positive outlook, showing the manufacturing sector expanded for a fourth consecutive month.
Investors are anticipating policies to revitalize the economy at China's upcoming National People’s Congress next week, during which Beijing will announce the annual GDP growth target.
Korea market is closed for a holiday.
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