Asian markets closed Friday’s session on a higher note for the second consecutive session, as investors absorbed comments by Fed Chair Janet Yellen testimony after the Chair had said it was “premature” to conclude if the U.S economy was on its path to the 2 percent inflation target. Furthermore, Yellen said the central bank would start shrinking their balance sheet this year.
Over in South Korea, Korean Benchmark Kospi ended the session in positive territory, bolstered by from Korean central bank decided to keep its base rate unchanged at 1.25 percent. Kospi index added 0.21% to trade at 2,414.63 at the close.
Look at individual stocks in South Korea, news that South Korea car maker Hyundai’s employees were voting over a possible strike. Despite the news, Hyundai’s share price surged by 3.36%, and Kia Motors shares advanced 1.08% at the close.
Meanwhile, Hong Kong’s main benchmark Hang Seng index also gained in today session to rise by margin of 0.16% to end the session at 26,368.33
In Mainland China, Stock markets end the session in the mixed territories, with Shanghai composite adding 0.13 to trade at 3.222.42, While Shenzhen Composite lost 0.41% to last trade at 1,881.01.
In Japan, Tokyo’s main benchmark Nikkei 225 ended the session in the green despite downbeat economic data showing that May industrial production fell by 3.6% compared to previous month according to the Ministry of Economy.
• Japan Stock Exchange:
Japanese equities closed up on Friday despite down beat industrial production data. The Nikkei rose slightly higher by 0.09% or 19.05 points to close at 20,118.86.
The best performers of the session on the Nikkei 225 were Tokai Carbon Co Ltd Which rose 5.83% or 38.0 points to trade at 690.0 at the close, Meanwhile, Furukawa Co Ltd added 5.05% or 10.0 points to end at 208.0 and Showa Denko KK gained 4.34% or 121 points to 2,907.0 in late trade.
The worst performers of the session were Fast Retailing Co Ltd which fell 4.56% or 1650 points to trade at 34,570.0 at the close, meanwhile Toshiba Corp continued its losing streak to decline by 4.46% or 10.8 points to end at 231.6, and Screen Holdings Co Ltd was down 2.46% or 190 points to 7,520.0.
• Australia Stock Exchange:
Australia equities were higher on Friday supported by the gains in the Energy, Consumer Non-Cyclicals & Consumer Cyclicals IT sectors. Australian benchmark S&P ASX 200 advanced 0.49% to close the session at 5765.12.
The best performance of the session on the S&P/ASX 200 were WorleyParsons Ltd which rose 6.89% or 0.73 points to trade at 11.330 at the close. Meanwhile, BT Domino's Pizza Enterprises Ltd added 4.28% or 2.3 points to end at 56.090, followed by Eclipx Group Ltd was up 3.56% or 0.13 points to 3.780 in late trade.
The worst performers of the session were Northern Star Resources Ltd which fell 6.24%% or 4.510 points to trade at 4.510 at the close. St Barbara Ltd declined 5.99% or 0.17 points to end at 2.670, and Qantas Airways Ltd was down 4.56% or 0.26 points to 5.440.
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