Asia-Pacific markets mostly decline after Wall Street recovery
SINGAPORE — Shares in Asia-Pacific gave up early gains to mostly fall on Friday after a comeback on Wall Street as investors continued to digest the Fed’s plans to fight inflation.
The Nikkei 225 lost 0.18%, while the Topix slipped 0.28%.
Hong Kong’s Hang Seng index fell 0.17%, while the Hang Seng Tech index dropped 1.14%.
In South Korea, the Kospi declined 0.23% and the Kosdaq lost 0.16%.
Australia’s S&P/ASX 200 rose 0.62%.
Major stock indexes in the U.S. reversed losses to rise slightly at the close.
The Dow Jones Industrial Average gained 87.06 points, or 0.25%, to 34,583.57 after losing as much as 300 points earlier in the session. The S&P 500 was up 0.43% at 4,500.21, and the Nasdaq Composite inched up 0.06% to 13,897.30 following two straight days of losses.
Defensive stocks such as consumer staples and health care led the market comeback.