Equities in Asia traded mixed Friday in a sign investors are rethinking the optimism that propelled the region’s shares higher in the prior session, as fresh signs of persistent inflation appeared in the US, per a Bloomberg report.
Shares in Australia were little changed while Japanese stocks nudged higher. Futures contracts for Hong Kong equities declined. The moves followed Thursday’s sharp rally for a gauge of the region’s shares, which touched the highest level in almost two years.
Contracts for US stocks rose in early Asian trading after the S&P 500 index rose 0.3% to a fresh high Thursday — its 20th of the year — led by gains in industrials and banks. Reddit Inc. shares soared 48% on their debut. Other tech stocks faltered, with Apple Inc. and Alphabet Inc. falling against the backdrop of heightened regulatory pressure, the report added.
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