Global growth concerns weigh on Asian markets, Japan outperforms.
TL;DR
Most Asian stock markets were subdued on Friday due to concerns of a global slowdown after soft economic data from the US and China. The dollar held onto its gains from safe-haven flows. Japanese shares outperformed, with the Nikkei climbing 0.9% to its highest level since November 2021. China's bluechips fell 1.1%, and Hong Kong stocks were down 0.7% on the day. Banking fears lingered with PacWest down 23%. The US Federal Deposit Insurance Corporation said big lenders would bear the cost of replenishing its deposit insurance fund caused by recent bank failures.
Topics:businessfinance#asian-stock-markets#banking-fears#finance#global-growth-concerns#nikkei#us-data
- Asian shares weaken on global growth concerns, Japan outperforms Reuters
- Asia markets trade mixed as U.S. inflation shows more signs of easing CNBC
- Stock Market Today: Dow, S&P Live Updates for May 12 Bloomberg
- SGD Steady; May Be Weighed by Deteriorating Risk Appetite The Wall Street Journal
- Stock market today: Asian shares mostly lower on looming worry over US banks, China growth The Associated Press
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