Asian markets mixed as strong US tech earnings offset poor data
==========

Asian markets were mixed on Friday as forecast-topping earnings from Microsoft and Alphabet helped soothe worries about a tech-fueled rally. The yen hit a fresh 34-year low after the Bank of Japan stood pat on interest rates. Fresh worries about the economic outlook arose after worse-than-expected data combined with a forecast-topping print on core inflation, fueling speculation of stagflation. Investors were awaiting the release of the Federal Reserve's preferred gauge of inflation, the personal consumption expenditures (PCE) index. Asian investors have enjoyed an upbeat week due to a healthy earnings season. Hong Kong, Tokyo, Seoul, Taipei, and Manila saw gains, while Sydney, Singapore, Wellington, Mumbai, Jakarta, and Bangkok fell. Wall Street's three main indexes ended deep in the red after US economic growth in the first quarter fell short of expectations and core prices came in hotter than forecast. The Bank of Japan held interest rates after raising them for the first time in 17 years last month, causing the yen to sink further. Key figures include the Nikkei 225, which was up 0.8 percent at 37,934.76, and the Hang Seng Index, which was up 2.1 percent at 17,651.15. The dollar/yen exchange rate was up at 156.72 yen from 155.64 yen on Thursday. The euro/dollar exchange rate was up at $1.0734 from $1.0733. The pound/dollar exchange rate was down at $1.2511 from $1.2514.

#AsianMarkets #UsTechEarnings #PoorData #BankOfJapan #FederalReserve #Inflation #EarningsSeason

https://www.legit.ng/business-economy/economy/1589650-asian-markets-mixed-strong-tech-earnings-offset-poor-data/