While the effects of Alibaba’s lowering of income expectations were felt in Asian markets, technology shares stood out as the main actor of the rise on the US side.
On the last trading day of the week, technology companies are decisive in the movements of stock markets from Asia to the USA.
Hong Kong Hang Seng stands out negatively with a loss of 1.8 percent, with the effect of Chinese e-commerce giant Alibaba’s decline of more than 10 percent due to lowering its fiscal year 2022 revenue forecast. Moderate gains are observed in Japanese and Korean stock markets.
In the USA, on the other hand, there is a different picture, led by technology stocks. The S&P 500 index, with an increase of 0.3 percent, closed this year with a record for the 66th time. The Nasdaq 100 rose 0.5 percent. Bloomberg Dollar Index is preparing to close positive for the fourth week in a row. Its index is up 0.1 percent at 1176.
The US 10-year Treasury yield rose one basis point to 1.60 percent. Oil is rebounding after Goldman commented that the release of US and Chinese reserves is already priced in. US crude was trading at $79.5, up 0.6 percent.