Markets in the Asia-Pacific region were trading on a mixed note during early trade on Monday, while investors look forward to the reopening of Chinese markets on Monday after a week-long holiday.
The Nikkei 225 was 0.29% lower at 38,376.92, while the KOSPI was 0.94% up at 2,678.83 as of 7:42 a.m.
Wall Street is ending the week on a bit of a sour note, with bonds down and stocks wavering after economic data continued to fuel speculation that the Federal Reserve will be in no rush to cut interest rates, reports Bloomberg.
The S&P 500 index and Nasdaq Composite fell by 0.48% and 0.82%, respectively, as of Friday. The Dow Jones Industrial Average fell by 0.37%.
Brent crude was trading 0.31% lower at $83.23 a barrel. Gold was higher by 0.25% at $2,018.54 an ounce.
The GIFT Nifty was trading 5.5 points or 0.02% higher at 22,148.00 as of 7:38 a.m.
India’s benchmark equity indices gained more than 1% this week, with shares of Mahindra and Mahindra Ltd. and Wipro Ltd. adding around 11%.
The indices closed higher in the fourth consecutive session on Friday, with shares of Larsen and Toubro Ltd., Infosys Ltd. and M&M contributing the most to gains.
The NSE Nifty 50 closed 121.85 points up, or 0.56%, at 22,032.60 and the S&P BSE Sensex gained 365.84 points, or 0.51%, to end at 72,416.22.
Overseas investors in Indian equities turned net buyers on Friday after two consecutive days of selling. Foreign portfolio investors mopped up stocks worth Rs 253.3 crore, while domestic institutional investors bought stocks worth Rs 1,571 crore, the NSE data showed.
The Indian rupee strengthened by 2 paise to close at Rs 83.02 against the U.S. dollar.
