International
Higher Oil Prices, Persian Gulf Outlook Lower Asian Stock Markets
Asian stock markets trailed lower Friday on rising crude prices, after media reports that the US and Iran exchanged fire in the Strait of Hormuz.Brent crude futures traded at $100.55 a barrel, up 0.5%, during Asian market hours.Hong Kong and Tokyo equity indices finished in the red, while Shanghai was steady. Other regional exchanges were mixed on the downside.In Japan, the Nikkei 225 opened lower and could not recover, finishing off 0.2% as traders booked profits in a market trading near an all-time high, and weighed Middle East war reports and crude prices.The benchmark Nikkei 225 fell 120.19 to 62,713.65, as losing issues outnumbered gainers 128 to 99.Leading the upside was silicon-wafer maker Sumco, up 18%, while Yokogawa Electric declined 9.8%.In economic news, the Japan services purchasing managers index (PMI) declined to 51.0 in April, down from 53.4 in March, but still struck above the 50-mark that separates growth from contraction, reported S&P Global.The nation's composite PMI, a combination of the manufacturing and services sectors, slipped to 52.2 in April from 53.0 in March.In Hong Kong, the Hang Seng Index opened lower and drifted, closing down 0.9%.The broad gauge Hang Seng fell 232.57 to 26,393.71, as losing issues outnumbered gainers 58 to 31. The Hang Seng TECH Index lost 0.4% on the day, although the Mainland Properties Index rose 2.5%.Leading the upside was online social-media platform Kuaishou Technology, gaining 9.4%, while Semiconductor Manufacturing International declined 4.4%.On the mainland, the Shanghai Composite closed flat at 4,179.95.On the other regional exchanges, the S. Korean KOSPI rose 0.1%; the Taiwan TWSE declined 0.8%; the Australian ASX 200 declined 1.5%; the Singapore Straits Times Index fell 0.4%, and the Thai Set declined 0.5%. In late trading in Mumbai, the Sensex was down 0.7%.The MSCI All Country Asia Pacific Index fell 0.8% on the day.
Hang SengNikkei 225Shanghai Composite