Investing.com - There was a mixed performance in Asian Pacific markets on Friday, even as all three major US stock indexes hit new records, driven by substantial gains in industrial stocks.
By 11:40 am AEDT (12:40 am GMT) S&P/ASX 200 fell 0.3%, the KOSPI 200 added 0.2% and the Nikkei 225 lifted 0.4%.
SUPERCHARGE YOUR PORTFOLIO WITH INVESTING PRO!
UNLOCK ACCESS TO AI-POWERED PROPICKS, PROTIPS, AND MORE! CLICK HERE FOR 10% OFF!!
Leading the upward trajectory was the Dow Jones Industrial Average, which gained 0.7% or 269 points, culminating at 39,781.37. Industrial and banking stocks primarily fuelled the 0.3% rise of the S&P 500, which closed at 5,241.53. The tech-focused Nasdaq Composite Index also witnessed a modest increase of 0.2%, ending the day at 16,401.84.
In the commodities market, Brent crude oil experienced a 0.5% dip, settling at US$85.54 per barrel. Gold also suffered a minor decline of 0.3%, trading at US$2,181.02.
On the bond markets, the yield on Australian 2-year government bonds rose to 3.84%, and the 10-year yield also climbed to 4.09%. US Treasury notes displayed mixed performance, with the 2-year yield rising to 4.64% and the 10-year yield holding steady at 4.27%.
The Australian dollar experienced a slight fall to 65.68 US cents, down from its previous close of 65.85.
Contrary to the overall gains across other regional markets, Chinese shares ended the day on a lower note. The Shanghai Composite Index slipped 0.1% to 3077.11, while both the Shenzhen Composite Index and the ChiNext Price Index saw minor losses.
Hong Kong's Hang Seng Index rose 1.9%, closing at 16863.10, mirroring gains across most regional equity markets. Standout performers on the benchmark index included China Hongqiao Group, which rose 5.8%; Haidilao International, which added 5.5%; and Longfor Group Holdings, which was up 5.6%.
Japan's Nikkei Stock Average closed 2.0% higher, reaching a new record high of 40815.66 amid growing hopes for Fed rate cuts later this year. The 10-year Japanese government bond yield rose one and a half basis points to 0.740%.
Indian shares closed higher, with NTPC leading gains with a 3.55% increase. The steel sector also saw advancement, with Tata Steel up 3.0% and JSW Steel rising 2.4%. The benchmark Sensex was 0.75% higher, ending at 72641.19.
European shares closed higher, with the STOXX Europe 600 and DAX 40 up 0.9% to 509.77 and 18,179.25 respectively, and the CAC 40 rising 0.2% to 8,179.72.
The FTSE 100 index closed Thursday up 1.9% at 7882 points, buoyed by miners and the consumer-discretionary sector amid increasing hopes of the end to the rate-hikes cycle. 3i (LON:III) Group led the risers, with shares closing up 8.7%, after the international investment manager reported a strong start to 2024. Next PLC also performed well, up 6.7% after the group backed its growth guidance