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Asian markets ended mostly higher on Friday

07 May 2021 Evaluate

Asian markets ended mostly higher on Friday, tracking Wall Street gains overnight after data showed applications for US state unemployment insurance fell last week to a fresh pandemic low. Seoul stocks gained with growing hopes of a faster than expected economic recovery across the globe. Meanwhile, Japanese shares ended marginally higher after data showed the services sector in Japan continued to contract in April, albeit at a slower pace with a PMI score of 49.5, up from 48.3 in March, while concerns about surging corona-virus infections and possible lockdowns capped the upside. However, Chinese shares ended lower on lingering Sino-US tensions after the Biden administration is likely to maintain pressure on China by preserving limits on US investments in certain Chinese companies, despite positive Chinese data which boosted optimism about the global economic outlook. The services sector in China continued to expand in April, and at a faster pace, the latest survey from Caixin revealed with a services PMI score of 56.3, up from 54.3 in March. Separately, official data showed that China's exports and imports grew faster than expected in April.

Asian Indices

Last Trade           

Change in Points

Change in %

Shanghai Composite

3,418.87
-22.41
-0.65

Hang Seng

28,610.65
-26.81
-0.09

Jakarta Composite

5,928.31
-41.93
-0.70

KLSE Composite

1,587.45

9.12

0.58

Nikkei 225

29,357.82
26.45
0.09

Straits Times

3,200.26
27.26
0.86

KOSPI Composite

3,197.20
18.46
0.58

Taiwan Weighted

17,285.00
290.64
1.71


About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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