Asian markets settled mostly higher on Friday as cooling US labour market revived hopes for US interest rate cuts this year. Data showed that US Initial Jobless Claims for the week ended May 4 rose to 231000 from the previous week of 209000, higher than the market consensus of 210000. Investors were awaiting next week's crucial US inflation data that could provide cues on the Fed's interest rate trajectory. Japanese shares gained by tracking Wall Streets’ gains overnight. Hong Kong shares gained after reports that regulators are considering a proposal to exempt individual investors from paying taxes on dividends earned from Hong Kong shares bought via Stock Connect. Chinese shares ended on a flat note amid optimism around economic recovery and after reports that US President Joe Biden’s administration is poised to unveil a sweeping decision on China tariffs as soon as next week.
| Asian Indices | Last Trade | Change in Points | Change in % |
| Shanghai Composite | 3,154.55 | 0.23 | 0.01 |
| Hang Seng | 18,963.68 | 425.87 | 2.25 |
| Jakarta Composite | -- | -- | -- |
| KLSE Composite | 1,600.67 | -0.55 | -0.03 |
| Nikkei 225 | 38,229.11 | 155.13 | 0.41 |
| Straits Times | 3,290.70 | 24.75 | 0.75 |
| KOSPI Composite | 2,727.63 | 15.49 | 0.57 |
| Taiwan Weighted | 20,708.84 | 148.07 | 0.72 |
