Asia-Pacific stocks trade mixed as markets monitor recession concerns

Asia-Pacific stocks trade mixed as markets monitor recession concerns


SINGAPORE — Shares in the Asia-Pacific region were mixed on Friday as investors weigh recession fears.

In Japan markets, the Nikkei 225 rose 0.13%, while the Topix declined 0.11%.

South Korea’s Kospi gained 0.7%, and the Kosdaq advanced 1.34%.

The S&P/ASX 200 in Australia slipped 0.21%. The New Zealand market is closed for a holiday on Friday.

Core consumer prices in Japan rose 2.1% for the month of May compared to a year earlier, in line with estimates, according to Reuters. That’s above the Bank of Japan’s target of 2% inflation. However, consumer prices only rose 0.8% if fresh food and energy was taken out, Reuters said.

Stock picks and investing trends from CNBC Pro:

Looking ahead, logistics company GoGoX is set to start trading on the Hong Kong market. The Reserve Bank of Australia’s governor, Philip Lowe, is also set to speak on inflation later in the day.

Overnight in the U.S., stocks rose in a late-day rally amid recession fears. Several large banks this week raised their expectations of a recession.

The Dow Jones Industrial Average climbed 194.23 points, or 0.64%, to 30,677.36. The S&P 500 advanced 0.95% to 3,795.73, and the Nasdaq Composite gained 1.62% to 11,232.19.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 104.399.

The Japanese yen strengthened to 134.76 per dollar, recovering from the 136 levels against the greenback earlier this week. The Australian dollar was at $0.6903, having mostly been on a weakening trend this week.

Oil futures rose slightly in Asia trade. U.S. crude futures gained 0.35% to $104.64 per barrel, while international benchmark Brent crude gained 0.34% to $110.43 per barrel.



Source

Google hires Windsurf CEO Varun Mohan, others in latest AI talent deal
World

Google hires Windsurf CEO Varun Mohan, others in latest AI talent deal

Chief executive officer of Google Sundar Pichai. Marek Antoni Iwanczuk | Sopa Images | Lightrocket | Getty Images Google on Friday made the latest a splash in the AI talent wars, announcing an agreement to bring in Varun Mohan, co-founder and CEO of artificial intelligence coding startup Windsurf. As part of the deal, Google will […]

Read More
India finds engine switch movement in fatal Air India crash, no immediate action for Boeing or GE
World

India finds engine switch movement in fatal Air India crash, no immediate action for Boeing or GE

Investigative officials stand at the site of Air India Boeing 787 which crashed yesterday, on June 13, 2025 in Ahmedabad, India. Ritesh Shukla | Getty Images A preliminary report by Indian aviation accident investigators said on Saturday the fatal Air India crash that killed 260 people in Ahmedabad last month showed the plane engines’ fuel […]

Read More
This coming earnings season could decide if a stock market at record highs has more room to run
World

This coming earnings season could decide if a stock market at record highs has more room to run

The upcoming earnings season will show investors whether the bull case for equities still holds. The second quarter reporting season comes at a pivotal point for the stock market, with the S & P 500 and Nasdaq Composite trading at all-time highs this week even after an onslaught of bad news regarding higher tariffs, a […]

Read More