Asian stocks showed a mixed performance on Friday, with most markets trending higher except for Japan, where investors were awaiting the outcome of an upcoming election. U.S. futures declined while oil prices saw an increase.
Japanese Prime Minister called for a snap general election amidst a political funding scandal, adding to market uncertainties. Japan's core inflation in October fell below the central bank's target for the first time in five months, potentially impacting future interest rate decisions.
The Nikkei 225 index in Tokyo dropped by 1%, while the yen strengthened against the U.S. dollar. In contrast, Hong Kong's Hang Seng and Shanghai Composite indices posted gains.
China's central bank maintained its lending rate and issued significant loans to financial institutions. South Korea's Kospi and Australia's S&P/ASX 200 also saw positive movements, along with Taiwan's Taiex.
In the U.S., the S&P 500 broke a losing streak, while the Dow Jones Industrial Average and Nasdaq composite had mixed performances. Tesla's stock surged after reporting better-than-expected profits, while Boeing faced challenges due to an ongoing strike.
Market sentiment was impacted by rising Treasury yields and concerns over stock valuations. Reports on unemployment claims, business activity, and new home sales provided a varied outlook on the U.S. economy.
Oil prices saw slight gains in early trading, while the euro weakened against the dollar. Overall, global markets continue to navigate through a mix of economic data and geopolitical events.
