MANILA, Philippines — Asian shares were mixed on Friday as investors awaited a key U.S. inflation report and after gains in technology stocks on Wall Street helped propel the market to another all-time high.
U.S. futures and oil prices slipped.
In Tokyo, the Nikkei 225 fell 0.2% to 42,744.80 after a slew of data released Friday showed Japan’s factory output slumped in July as higher tariffs hit on exports to the United States. Inflation in Tokyo also slowed to 2.6% year-on-year, while the jobless rate fell to 2.3% in July from 2.5% in June.
“Today’s Japanese data was mixed, with disappointing industrial production threatening third-quarter growth, while a tight labor market points to increased wages and underlying inflation remaining firm,” ING Economics said in a commentary. “We still think October is the most likely timing for a Bank of Japan rate hike.”
In Chinese markets, Hong Kong’s Hang Seng index rose 0.7% to 25,179.39, while the Shanghai Composite index added 0.2% to 3,849.76. Shares in computer chipmaker Cambricon Technologies shed gains on Friday after soaring 15.7% to 1,587.91 yuan ($222) a day earlier, becoming the priciest stock on Shanghai’s exchange.
“Hyper-growth in China’s tech landscape is starting to feel like a zero-sum cage fight rather than a clean runway. Even Cambricon’s AI chip story, this week’s darling, is now flashing red lights, warning of trading risks after an 8% skid,” Stephen Innes of SPI Asset Management said in a commentary.
South Korea’s KOSPI shed 0.1% to 3,193.05, while Australia’s S&P/ASX 200 edged 0.1% lower to 8,973.30.
Taiwan’s TAIEX was up 0.5% while India’s BSE Sensex fell less than 0.1%.
On Thursday, the S&P 500 rose 0.3%, lifting the benchmark index to its second record high in a row.