MSCI’s gauge of Asian shares rose for a seventh day and neared a fresh record, after the S&P 500 and Nasdaq 100 indexes both climbed to fresh closing highs in New York. A gauge of global stocks also hit a new record. Contracts for US equities were little changed Friday.
Microsoft Corp. shares climbed in post-market trading after the tech giant and OpenAI said they had reached an agreement, while Adobe Inc. shares also advanced in extended trading after it gave a strong quarterly revenue outlook. Elsewhere, Hyundai Motor Co. said a battery plant that was raided by US immigration authorities is being delayed as the companies faced labor shortages.
Treasuries broadly held on to gains made on Thursday when the US 10-year yield fell two basis points. Australian and New Zealand yields fell Friday, echoing the move. Bloomberg’s index of the dollar was steady. Gold stabilized after a small Thursday decline after eclipsing its inflation-adjusted peak set in 1980.
In Asia, data on the docket for release includes industrial production for Japan and inflation for India. Money supply and new loans data for China may be released any time through Sept. 15.
In China, investors will be closely watching the Hong Kong-listed shares in Alibaba Group Holdings Ltd. after the company’s US-listed depositary receipts rallied 8% Thursday.
Elsewhere, oil fell for a second day as a worsening market outlook undercut concerns about potential geopolitical disruptions to supplies.
