Japan Market closed.
China -0.59%. China Caixin / S&P Global Services PMI 56.4 vs. expected 57.3.
Hong Kong +0.48%.
Australia +0.37%. Australian data – housing finance in March solidly higher.
The Reserve Bank of Australia’s latest monetary policy statement indicates the central bank has already reached its peak cash rate of 3.85%, Commonwealth Bank of Australia said in a Friday note.
India -0.83%.
Overnight in the U.S., major US stock indices are on a three-day losing streak to start the month of May. The Dow Industrial Average led the way to the downside, but it was regional banks that stole the show today. The Dow industrial average fell -286.30 points or -0.86% at 33127.95, S&P index -29.38 points or -0.72% at 4061.35, Nasdaq index -58.94 points or -0.49% at 11966.39.
The European Central Bank on Thursday raised interest rates by a quarter percentage point, in line with market expectations, noting that inflation is still too high and underlying pressures persist.
Headline inflation in the Philippines have eased for the third straight month to 6.6% year on year, down from 7.6% in March.
Indonesia’s gross domestic product expanded 5.03% year-on-year in the first quarter of 2023.
Oil prices rose slightly in Asian morning trade on Friday, but were set for a third straight week of losses after markets witnessed dramatic drops on fears of a weakening U.S. economy and slowing Chinese demand.
Brent crude rose 30 cents, or 0.4%, to $72.80 a barrel at 0250 GMT, while U.S. West Texas Intermediate was up 30 cents, or 0.4%, at $68.86 a barrel after four straight days of losses.
Gold prices were flat on Friday but are set for their biggest weekly gain in nearly two months, as hopes of a pause in the U.S. Federal Reserve’s interest rate hike cycle and banking worries in the country bolstered the safe-haven metal’s appeal.
Spot gold was little changed at $2,050.63 per ounce as of 0349 GMT, but was up 3% for the week. U.S. gold futures were up 0.1% to $2,058.50.
Spot silver fell 0.2% to $26.03 per ounce.
Platinum gained 0.8% to $1,047.27 and palladium edged 1.1% higher to $1,464.80. Both the metals were headed for a weekly decline.
US futures higher. Dow Jones +0.24%; S&P 500 +0.37%; Nasdaq +0.39%.
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