Asian stocks rose on Monday following a strong rally in U.S. markets, marking the best day since November’s election, and amid stronger-than-expected factory data from China. Later in the day, Chinese officials were scheduled to brief the media on Beijing's efforts to boost consumer spending. Economists argue that increased consumer spending is essential for reviving the economy, though most have called for broader reforms to build confidence and enhance purchasing power. Bangladesh's leading light engineering firms participate in Comex Singapore 2025 Hong Kong's Hang Seng gained 1.3%, reaching 24,276.64, while the Shanghai Composite rose by 0.6% to 3,429.30. China's industrial output increased nearly 6% in the first two months of the year compared to last year, and retail sales grew by 4%. However, there was continued weakness in the property market, with home prices falling and real estate investment down nearly 10% from the previous year. In Japan, the Nikkei 225 index rose 1.3% to 37,539.36, while Seoul's Kospi surged 1.7% to 2,608.68. Australia's S&P/ASX 200 added 0.6%, reaching 7,838.20, and Taiwan’s Taiex rose by 0.9%. In contrast, Bangkok’s SET index dropped 0.7%. On Wall Street, U.S. stocks surged on Friday, but the market still ended its fourth consecutive losing week, the longest streak since August. The S&P 500 climbed 2.1%, recovering from a correction, closing at 5,638.94. This followed a sharp decline that began less than a month ago. The last significant rally occurred the day after President Donald Trump's election, when optimism was high about his return to the White House. The Dow Jones Industrial Average rose 1.7% to 41,488.19, while the Nasdaq composite gained 2.6% to 17,754.09. Ulta Beauty saw a 13.7% surge after reporting better-than-expected profits for the quarter. The market was further supported by gains in Big Tech and AI-related stocks, which had been under pressure due to concerns that their prices had risen too much in the AI frenzy. Nvidia rose 5.3%, reducing its 2025 losses to under 10%, while Apple increased by 1.8%, cutting its weekly loss that had initially been on track to be its worst since the 2020 COVID-19 crash. Senate actions to avoid a partial U.S. government shutdown also helped ease some market fears. However, the biggest uncertainty remains the escalating trade war, with questions about how much economic pain President Trump is willing to inflict through tariffs and other policies to reshape the country and world. Trump has said he aims to bring manufacturing jobs back to the U.S. and reduce the size of the government workforce. Although stock prices may be near completing their adjustment for tariffs scheduled to begin in April, concerns about the impact of federal spending cuts on the economy are expected to persist. U.S. households and businesses have reported declining confidence due to the uncertainty surrounding Trump’s shifting policies, raising fears that reduced spending could slow economic growth. A preliminary survey by the University of Michigan released on Friday revealed that consumer sentiment had fallen for the third consecutive month, primarily due to concerns about the future, even though the job market and economy remain relatively strong. Gold price increases by Tk 2,613 per bhori in Bangladesh In early Monday trading, U.S. benchmark crude oil increased by 48 cents to $67.66 per barrel, while Brent crude rose 49 cents to $71.07 per barrel. The U.S. dollar gained slightly against the Japanese yen, rising to 148.93 from 148.81, while the euro dropped slightly to $1.0880 from $1.0882.

Asian stocks rose on Tuesday after President Donald Trump announced a one-month delay in tariffs on Mexico and Canada, reports AP. Markets across Asia showed positive movement. Hong Kong's Hang Seng Index increased by 2.10% to 20,642.58, Japan’s Nikkei 225 gained 1.61% to 39,140.41, South Korea’s Kospi rose by 1.63% to 2,493.99, and Australia’s S&P/ASX 200 inched up 0.13% to 8,390.20. BEPZA signs deal to set up machinery manufacturing industry in EZ The White House also stated that Trump would be speaking with Chinese President Xi Jinping, igniting hopes of a potential deal that could prevent a wider trade war. Last week, Trump imposed a 10% tariff on Chinese goods, which is expected to take effect on Tuesday. Canada confirmed that a deal with the U.S. for a month-long tariff reprieve was reached, but the announcement came only after U.S. markets had closed. Analysts attributed Tuesday's market rally to the tariff delay for countries like Canada and Mexico. Yeap Jun Rong, a market strategist at IG, noted in a report that the pullback in the US dollar and the optimism surrounding tariff relief could help sustain market gains unless unexpected issues arise in US-China trade talks. He also commented that the delay reflects Trump’s willingness to negotiate and could signal that tariffs are being used more as leverage in negotiations rather than fixed policies. On Monday, the S&P 500 dropped by 0.8%, the Dow Jones Industrial Average lost 122 points (0.3%), and the Nasdaq composite fell by 1.2%. U.S. stocks recovered some of their losses after Mexico confirmed a monthlong reprieve from Trump’s tariffs. In energy markets, benchmark U.S. crude oil fell by $0.77 to $72.39 per barrel, while Brent crude, the international standard, declined by 36 cents to $75.60 a barrel. Taskforce on economy puts forward its recommendations The U.S. dollar strengthened slightly, rising from 154.75 yen to 155.13 yen. The euro weakened slightly, dropping to $1.0317 from $1.0345.

Asian shares traded with mixed results in a generally subdued session on Tuesday, despite expectations for market movements following the inauguration of U.S. President Donald Trump, reports AP. While some analysts suggested the inauguration could boost global market optimism, others cautioned that potential tariffs could dampen Asian economies. U.S. markets remained closed on Monday for the Martin Luther King Jr. Day holiday. China's economy grows 5% in 2024 Japan's Nikkei 225 index slipped 0.1% to 38,951.77 during morning trading. Australia's S&P/ASX 200 rose 0.5% to 8,392.80, while South Korea's Kospi dipped 0.2% to 2,514.06. Concerns regarding Trump's policies towards China have somewhat eased, as both nations expressed commitments to improving relations. Trump refrained from announcing immediate tariff measures on Chinese exports to the U.S. Hong Kong's Hang Seng index climbed 0.4% to 20,012.25, while the Shanghai Composite fell 0.3% to 3,233.85. “In a surprising turn that eased global market concerns, President Trump indicated he would not impose new tariffs immediately, contrary to earlier expectations,” remarked Stephen Innes, managing partner at SPI Asset Management. Americans to experience economic pain from Trump tariffs: Canada Reflecting some market optimism over potential executive actions to stimulate the U.S. economy, U.S. stock market futures edged higher. In other developments, shares of Fuji Media Holdings—affiliated with prominent Japanese broadcaster Fuji TV—fell during morning trading. The drop followed announcements by several companies, including Toyota Motor Corp., to halt advertising during Fuji TV programmes amidst a sex scandal reported by the weekly magazine Shukan Bunshun. In energy markets, benchmark U.S. crude slipped $1.14 to $76.74 a barrel, while Brent crude, the international standard, rose 13 cents to $80.28 a barrel. Germany's economy shrinks again Currency trading saw modest moves, with the U.S. dollar weakening slightly amid uncertainty surrounding Trump's tariff plans. The dollar declined to 155.14 Japanese yen from 155.61 yen. The euro traded at $1.0389, down marginally from $1.0419.

Asian markets showed mixed performance on Tuesday, reflecting Wall Street's uneven results, where gains in oil-and-gas producers balanced declines in Nvidia and other Big Tech stocks, reports AP. Japan’s Nikkei 225 dropped 1.8% to 38,469.58 after reopening following a Monday holiday. Australia’s S&P/ASX 200 gained 0.4% to 8,220.50, South Korea’s Kospi edged down 0.1% to 2,489.33, Hong Kong’s Hang Seng rose 1.5% to 19,163.92, and China’s Shanghai Composite jumped 2.2% to 3,229.99. Asian shares decline amid concerns over rate cuts and tariffs “Japan’s markets are catching up after last week’s sell-off,” said Yeap Jun Rong, market strategist at IG. Japan’s Finance Ministry reported a 54.5% year-on-year increase in the country’s current account for November, reaching 3.4 trillion yen ($21 billion). On Wall Street, the S&P 500 rose 0.2% after recovering from an earlier 0.9% drop. The Dow Jones Industrial Average climbed 0.9%, while the Nasdaq composite fell 0.4%, weighed down by Big Tech. Recent pressure on stocks stems from concerns about the Federal Reserve’s potential rate cuts this year. While lower rates would boost the economy, inflation above the Fed’s 2% target and signs of a resilient U.S. economy have cast doubt on whether any rate cuts will occur in 2025. High rates have been pushing down prices of investments, especially those deemed overvalued. Nvidia, which had nearly quintupled in value over three years due to AI enthusiasm, fell 2%, the biggest drag on the S&P 500. Apple slipped 1%, and Meta Platforms lost 1.2%, further weighing on the index. Moderna plunged 16.8% after forecasting lower-than-expected 2025 revenue and accelerating cost-cutting efforts. Macy’s dropped 8.1% on weaker-than-expected revenue projections, and Edison International lost 11.9% amid ongoing Southern California wildfires. Fire officials are investigating whether the utility’s equipment caused the Hurst fire. Oil-and-gas companies rose as crude prices climbed. Benchmark U.S. crude gained 2.9% to $78.82 per barrel on Monday, while Brent crude rose 1.6% to $81.01. Exxon Mobil increased 2.6%, and Valero Energy surged 4.9%. Early Tuesday, U.S. crude fell 37 cents to $78.45 per barrel, and Brent crude dropped 43 cents to $80.58. Stock market today: Asian shares advance though China economic data weaker than expected U.S. Steel rose 6.1% after the Biden administration extended the deadline for its acquisition by Japan’s Nippon Steel to June. Intra-Cellular Therapies soared 34.1% after Johnson & Johnson announced plans to acquire it for $132 per share. Johnson & Johnson rose 1.7%. The S&P 500 closed at 5,836.22, up 9.18 points. The Dow added 358.67 points to 42,297.12, while the Nasdaq fell 73.53 points to 19,088.10. Treasury yields continued their upward trend, with the 10-year yield rising to 4.78% from 4.76% on Friday, after being below 3.65% in September. Rising yields could pressure stock prices unless companies deliver higher profit growth. In currency markets, the U.S. dollar strengthened to 157.70 Japanese yen from 157.26 yen, while the euro declined to $1.0255 from $1.0274.

Asian stocks fell on Friday, following a U.S. market closure for the National Day of Mourning for former President Jimmy Carter. U.S. futures were down, and oil prices saw an increase, reports AP. Regional markets broadly declined, with analysts attributing the drop to growing concerns over the Federal Reserve's ability to cut interest rates further, given recent data indicating unexpected strength in the U.S. economy. Stock market today: Asian shares advance though China economic data weaker than expected Minutes from the Fed's December meeting revealed that officials expected to slow down the pace of rate cuts this year due to persistent inflation and potential tariff hikes under President-elect Donald Trump, alongside other anticipated policy changes. The Fed's economists noted that the U.S. economy's future was uncertain, partly due to potential changes in trade, immigration, fiscal, and regulatory policies under the incoming Trump administration. Investors were also awaiting a U.S. non-farm jobs report later in the day. Markets seemed worried about the risk that the Fed may adopt a more restrictive policy that could hinder the "risk-on" market sentiment, according to Tan Jing Yi of Mizuho Bank. DSEX gains 9.42 points; 400 companies participate in trading Investors also remained cautious ahead of Trump's inauguration, particularly regarding the possibility of higher tariffs against China and other nations. Although increased tariffs on Chinese goods were expected, it remained unclear which other economies would be targeted or whether universal tariffs would be imposed, according to ANZ Research. In Tokyo, the Nikkei 225 dropped 0.9% to 39,236.86, while South Korea's Kospi was unchanged at 2,521.96. Chinese markets saw further losses, with the Hang Seng down 0.5% to 19,142.98 and the Shanghai Composite down 0.5% to 3,196.01. The S&P/ASX 200 in Australia fell 0.5% to 8,292.10. The SET in Bangkok remained nearly flat, and the Sensex in India fell by 0.4%. Taiwan's Taiex saw a slight gain, increasing by 0.2%. Bangladeshi expats set new remittance record: $2.64 billion in December 2024 In the U.S., the bond market was open until 2 p.m. Eastern time Thursday. Yields remained relatively steady after a strong recent rise that had unsettled the stock market. The yield on the 10-year Treasury was 4.69%, after briefly surpassing 4.70%, its highest since April. Higher yields can negatively impact stocks by making borrowing more expensive and attracting investors away from stocks towards bonds. The rise in yields has been driven by better-than-expected U.S. economic reports and concerns about inflationary pressures from potential policy changes under Trump. In European trading on Thursday, London's FTSE 100 rose by 0.8% to 8,319.69, aided by a weaker British pound, which boosted U.K. exporters' profits. Germany's DAX lost 0.1% to 20,317.10, while France's CAC 40 gained 0.5% to 7,490.28. In early Friday trading, U.S. benchmark crude oil increased by 38 cents to $74.29 per barrel, and Brent crude rose by 39 cents to $77.31 per barrel. The U.S. dollar strengthened to 158.40 yen from 158.14 yen, while the euro slipped to $1.0298 from $1.0301.

Asian shares followed Wall Street and Europe lower on Friday, with markets jittery over the risk that the Federal Reserve and other central banks may end up bringing on recessions to get inflation under control. Oil prices and U.S. futures edged higher. China’s move to relax COVID restrictions has raised hopes for an end to massive disruptions from lockdowns and other strict measures to prevent infections. But signs of sharply rising case numbers have raised uncertainty, with some alarmed over the possibility that the pandemic will continue to drag on the economy. Hong Kong’s Hang Seng was flat, at 19,369.65 while the Shanghai Composite index shed 0.3% to 3,160.67. Tokyo’s Nikkei 225 lost 1.7% to 27,569.56 after a survey of manufacturers showed a further contraction in output. The Kospi in Seoul edged 0.2% lower to 2,357.97, while Australia’s S&P/ASX 200 declined 0.3% to 7,180.50. Shares in Taiwan fell 1.2% and the SET in Bangkok lost 0.2%. Mumbai dropped 1.4%. On Thursday, the S&P 500 fell 2.5% to 3,895.75, erasing its gains from early in the week. The tech-heavy Nasdaq composite lost 3.2% to 10,810.53 and the Dow gave back 2.2% to 33,202.22. Read more: Global trade growth turns negative after record year: UN The wave of selling came as central banks in Europe raised interest rates a day after the U.S. Federal Reserve hiked its key rate again, emphasizing that interest rates will need to go higher than previously expected in order to tame inflation. European stocks fell sharply, with Germany’s DAX dropping 3.3%. Like the Fed, central bank officials in Europe said inflation is not yet corralled and that more rate hikes are coming. “We are in for a long game,” European Central Bank President Christine Lagarde said at a news conference. Small company stocks also fell. The Russell 2000 index slid 2.5% to close at 1,774.61. The Fed raised its short-term interest rate by half a percentage point on Wednesday, its seventh increase this year. Central banks in Europe followed along Thursday, with the European Central Bank, Bank of England and Swiss National Bank each raising their main lending rate by a half-point Thursday. Although the Fed is slowing the pace of its rate increases, the central bank signaled it expects rates to be higher over the coming few years than it had previously anticipated. That disappointed investors who hoped recent signs that inflation is easing somewhat would persuade the Fed to take some pressure off the brakes it’s applying to the U.S. economy. The federal funds rate stands at a range of 4.25% to 4.5%, the highest level in 15 years. Fed policymakers forecast that the central bank’s rate will reach a range of 5% to 5.25% by the end of 2023. Their forecast doesn’t call for a rate cut before 2024. The yield on the two-year Treasury, which closely tracks expectations for Fed moves, rose to 4.24% from 4.21% late Wednesday. The yield on the 10-year Treasury, which influences mortgage rates, slipped to 3.45% from 3.48%. The three-month Treasury yield slipped to 4.31%, but remains above that of the 10-year Treasury. That’s known as an inversion and considered a strong warning that the economy could be headed for a recession. Read more: Remittance fell in Sep due to exchange rate volatility: Bangladesh Bank The central bank has been fighting to lower inflation at the same time that pockets of the economy, including employment and consumer spending, remain strong. That has made it more difficult to rein in high prices on everything from food to clothing. On Thursday, the government reported that the number of Americans applying for unemployment benefits fell last week, a sign that the labor market remains strong. Meanwhile, another report showed that retail sales fell in November. That pullback followed a sharp rise in spending in October. In other trading Friday, benchmark U.S. crude oil gained 38 cents to $76.49 a barrel in electronic trading on the New York Mercantile Exchange. It lost $1.17 on Thursday to $76.11 per barrel. Brent crude, the pricing basis for international trading, added 49 cents to $81.70 per barrel. The dollar fell to 137.25 Japanese yen from 137.81 yen late Thursday. The euro rose to $1.0651 from $1.0627.  

Asian shares were mostly higher on Friday following a broad rally on Wall Street, but Hong Kong’s benchmark sank more than 2%. Investors appear to have grown more convinced that the Federal Reserve may temper its aggressive interest rate hikes aimed at taming inflation after the Commerce Department reported the U.S. economy contracted at a 0.9% annual pace in the last quarter. That followed a 1.6% year-on-year drop in the first quarter. Investors were cautiously eyeing regional tensions over China’s stance on Taiwan after President Joe Biden and China’s Xi Jinping spoke for more than two hours on Thursday. China left no doubt it blames the U.S. for a deteriorating relationship, but the White House said call’s aim was to “responsibly manage our differences and work together where our interests align.” Hong Kong’s Hang Seng index dropped 2.3% to 20,148.90 and the Shanghai Composite index declined 0.7% to 3,258.86 after China’s leaders acknowledged the struggling economy won’t hit its official 5.5% growth target this year. The announcement after a planning meeting of the ruling Communist Party said Thursday that Beijing will try to prop up sagging consumer demand but will stick to strict anti-COVID-19 tactics that have disrupted manufacturing and trade. It underscores the high cost Xi’s government is willing to incur to stop the virus in a politically sensitive year when he is widely expected to try to extend his term in power. Japan’s benchmark Nikkei 225 lost 0.3% to 27,750.17, while Australia’s S&P/ASX 200 gained 0.8% to 6,947.30. South Korea’s Kospi added 0.4% to 2,446.22. Read: Japan shares rise after election, rest of region declines Japanese government data showed factory output in June jumped 8.9% from the previous month, marking the first rise in three months. The recent easing of pandemic lockdowns in China has helped boost Japanese production. “On the economic data front, easing China’s restrictions also drove a stronger-than-expected June output for Japan, with China’s reopening potentially having a positive knock-on impact across the region as well into the second half of the year,” said Yeap Jun Rong, market strategist at IG in Singapore. A surge in COVID-19 infections to record levels in many parts of Japan has raised concern. But Robert Carnell, regional head of research Asia-Pacific at ING believes that Japan’s second quarter GDP, or gross domestic product, will rebound marginally from the first quarter’s contraction. On Thursday, the S&P 500 rose 1.2% to 4,072.43, while the Dow added 1% to close at 32,529.63. The Nasdaq gained 1.1% to 12,162.59. The Russell 2000 rose 1.3% to 1,873.03. Consecutive quarters of falling GDP are an informal, though not definitive, indicator of what economists call a technical recession. The GDP report signaled weakness across the economy. Consumer spending slowed as Americans bought fewer goods. Business investment fell. Inventories tumbled as businesses slowed their restocking of shelves, shedding 2 percentage points from GDP. The Federal Reserve has made slowing the U.S. economy to tame the highest inflation in 40 years its goal by raising interest rates, most recently on Wednesday. The latest GDP report, along with other recent weak economic data, could be giving some investors confidence that the central bank will be able to ease up on the size of any further rate hikes. In a research note Thursday, Jonathan Golub, chief U.S. equity strategist at Credit Suisse Securities, said “Whether or not we are in a recession will be debated by academics in the months ahead. However, today’s report unequivocally reflects a substantial weakening in economic activity, and raises the likelihood of a dovish pivot by the Fed.” The central bank raised its key short-term interest rate by 0.75 percentage points on Wednesday, lifting it to the highest level since 2018. The move sparked a broad market rally led by technology stocks that helped give the Nasdaq its biggest gain in over two years. The major indexes are now all on pace for a weekly gain, extending Wall Street’s strong July rally. In a busy week of corporate earnings reports investors have focused on what companies are saying about inflation and the impact rising interest rates are having on their business and customers. Technology stocks and retailers, restaurant chains and other companies that rely on direct consumer spending helped lift the S&P 500 Thursday. Microsoft rose 2.9%, Target gained 3.1% and McDonald’s added 1.8% higher.

Asian shares were mixed Friday after another day of gains on Wall Street amid a deluge of news about the economy, interest rates and corporate profits. Tokyo, Shanghai and Hong Kong gained while Sydney and Seoul declined. U.S. futures edged lower while oil prices rose. A preliminary reading on factory activity for Japan showed output and new orders contracting to their worst levels in months. Companies blamed shortages of raw materials and rising costs, but demand may be weakening as the country endures yet another wave of coronavirus outbreaks, economists said. July’s purchasing manager indexes “suggest that the manufacturing sector is slowing as demand weakens, while the latest COVID-19 is starting to hit the service sector,” Marcel Thieliant of Capital Economics said in a commentary. Japan reported its inflation rose at a slower pace in June, with food prices growing 6.5% year-on-year compared to 12.3% in May and the increase in energy costs falling to 16.5% from 20.8%. Core inflation excluding volatile energy and food prices rose to 2.6% from 2.2% the month before. Read: Asia shares rise on optimism about easing COVID restrictions The Bank of Japan has indicated that unlike the Federal Reserve and other central banks, however, it does not intend to raise its minus 0.1% benchmark interest rate to counter the trend given that wages are not rising in tandem with prices, constraining consumer demand. Tokyo’s Nikkei 225 index gained 0.4% to 27,914.66, while the Hang Seng in Hong Kong added 0.3% to 20,624.18. Australia’s S&P/ASX 200 lost less than 0.1% to 6,791.50. In South Korea, the Kospi declined 0.6% to 2,393.14. The Shanghai Composite index edged 0.1% higher to 3,274.15. Much of the focus this week has been on Europe. The European Central Bank opted, as expected, to raise its key interest rate Thursday, ending a yearslong experiment with negative interest rates. It was its first increase in 11 years. A key pipeline carrying Russian natural gas into the region reopened, though at 40% of capacity as worries persisted that Moscow may restrict supplies to punish allies of Ukraine. In Italy, Premier Mario Draghi resigned after his ruling coalition fell apart. That adds more uncertainty as Europe contends with the war in Ukraine, high inflation and the potential for trouble in Europe’s bond markets. On Wall Street, the S&P 500 climbed 1% to 3,998.95 on Thursday, returning to its highest level in six weeks. The Dow rose 0.5% to 32,036.90 and the Nasdaq rose 1.4% to 12,059.61. The Russell 2000 gained 0.5%, at 1,836.69. Stocks briefly lost ground after President Joe Biden tested positive for COVID. The Federal Reserve is set to raise rates next week for a fourth time this year, once again trying to tamp down high inflation without pulling the economy into a recession. Some parts of the U.S. economy already have begun to soften. The number of workers who filed for unemployment benefits last week was the highest in eight months, though it remains relatively low. A separate report released Thursday showed manufacturing in the mid-Atlantic region weakened much more than economists had expected. Strong profits from big U.S. companies have driven gains on Wall Street this week. Tesla climbed 9.8% in the first trading after the electric-vehicle maker reported results for the spring that were better than analysts expected. It was the biggest gainer in the S&P 500. Stocks of energy companies also fell as the price of U.S. crude oil settled 3.5% lower. Early Friday, U.S. benchmark crude oil was up $1.40 at $97.75 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the pricing basis for international trading, advanced $1.31 to $100.79 per barrel. In currency trading, the U.S. dollar bought 137.85 Japanese yen, up from 137.41 late Thursday. The euro slipped to $1.0199 from $1.0230.

Asian shares were mostly lower on Monday, although Japan’s benchmark rallied, welcoming a landslide parliamentary election victory by the ruling Liberal Democratic Party. Concerns about global inflation and interruptions to economic activity brought on by the coronavirus pandemic are adversely affecting investor sentiment. The tide may be shifting as more and more market players focus on the economic outlook, Stephen Innes of SPI Asset Management said in a commentary. “A recession is not the market’s base outlook, but until proven otherwise, investors will debate the depth of the growth hit, not the likelihood of recession; thus, good economic data is good news for stocks,” he said. Japan’s benchmark Nikkei jumped 1.1% in morning trading to 26,803.30. Japan’s governing party and its coalition partner scored a major victory in balloting Sunday, which came two days after the assassination of former Prime Minister Shinzo Abe. Abe was shot by a man emerging from the crowd listening to his campaign speech, took out a homemade gun and fired. The attack shocked a nation that rarely sees gun violence. The Liberal Democratic Party was bound for victory even before the assassination, but some analysts said the shock of Abe’s death was likely to strengthen that trend. With its partner Komeito party, the ruling coalition raised its combined share in the 248-seat upper house to 146. Prime Minister Fumio Kishida almost certainly stands to rule without interruption until a scheduled election in 2025, ensuring that the pro-U.S. defense and diplomatic policies of the late Abe and the Liberal Democrats will continue unchanged. Read: Asia shares rise on optimism about easing COVID restrictions Australia’s S&P/ASX 200 declined 0.6% to 6,638.20. South Korea’s Kospi lost 0.3% to 2,342.82. Hong Kong’s Hang Seng slipped 2.7% to 21,144.53, while the Shanghai Composite fell 1.5% to 3,307.23. Technology shares fell after market regulators in China fined companies for not reporting past transactions as required. Wall Street had a sputtering finish last week, as global markets turned their attention to Chinese economic indicators and moves by central banks, including the U.S. Federal Reserve, to contain stubbornly growing inflation. The hotter the U.S. economy remains, the more likely the Federal Reserve is to continue raising interest rates. A strong hiring report for June assuaged fears that the U.S. economy might be on the cusp of a recession — and highlighted the resilience of the nation’s job market. Yet the figures the government released Friday also spotlighted the sharp divide between the healthy labor market and the rest of the economy: Inflation has soared to 40-year highs, consumers are increasingly gloomy, home sales and manufacturing are weakening and the economy might actually have shrunk for the past six months. The Fed has already hiked its key overnight interest rate three times this year, and the increases have become increasingly aggressive. Last month it raised rates by the sharpest degree since 1994, by three-quarters of a percentage point to a range of 1.50% to 1.75%. It was at virtually zero as recently as March. Other central banks around the world are also raising interest rates and removing emergency plans put in place early in the pandemic to prop up financial markets. On Friday, the S&P 500 dropped 0.1% to 3,899.38, snapping a four-day winning streak. The Dow fell 0.1% to 31,388.15, while the Nasdaq rose 0.1% to 11,635.31. The Russell 2000 index of small company stocks slipped less than 0.1%, to 1,769.36. In energy trading, U.S. benchmark crude lost 79 cents to $104.00 a barrel. It gained $2.06 to $104.79 a barrel on Friday. Brent crude, the international standard, fell 74 cents to $106.28 a barrel. In currency trading, the U.S. dollar gained to 137.03 Japanese yen from 136.10 yen. The euro cost $1.0148, down from $1.0182.

Shares were higher in Asia on Friday, despite data suggesting economies are slowing. The advance tracked gains on Wall Street, where the market is headed for its first weekly gain after three weeks of punishing losses. Tokyo’s Nikkei 225 index added 1.2% to 26,491.97 and the Kospi in Seoul jumped 2.4% to 2,369.16. Hong Kong’s Hang Seng advanced 2% to 21,707.92 and the Shanghai Composite index added 1% to 3,354.63. In Australia, the S&P/ASX 200 gained 0.8% to 6,577.40. Shares also rose in India and Taiwan. U.S. and European futures also were higher. Market players are looking ahead to U.S. inflation data due next week. They appeared to shrug off preliminary data showing a slowing of factory activity in several countries including Japan. The manufacturing manager surveys of “several developed economies came in lower-than-expected in both the manufacturing and services sector, which points to a broad-based moderation in economic activities,” Jun Rong Yeap of IG said in a commentary. A report Friday showed inflation in Japan remained at 2.1% in May, pushed higher by energy costs and a weaker currency. However, underlying core inflation, which excludes volatile costs for energy and fresh foods, remained at 0.8% and the central bank is unlikely to follow the example of the U.S. Federal Reserve and other central banks in raising interest rates, analysts said. Also Read: Asian stock markets higher after Wall St sinks further The Bank of Japan “isn’t convinced that this will be sustainable because wage growth remains soft and higher energy costs are weighing on corporate profits and consumer sentiment,” Marcel Thieliant of Capital Economics said in a report. On Wall Street, trading was wobbly as investors focused on another round of testimony before Congress by Federal Reserve Chair Jerome Powell. He told a House committee the Fed hopes to rein in the worst inflation in four decades without knocking the economy into a recession, but acknowledged “that path has gotten more and more challenging.” The S&P 500 ended 1% higher at 3,795.73 after having been down as much as 0.4%. The Dow Jones Industrial Average rose 0.6% to 30,677.36 and the Nasdaq gained 1.6% to 11,232.19. Smaller company stocks also gained ground. The Russell 2000 rose 1.3% to 1,711.67. Trading has been turbulent in recent weeks as investors try to determine whether a recession is looming. The benchmark S&P 500 is currently in a bear market. That means it has dropped more than 20% from its most recent high, which was in January. The index has fallen for 10 of the last 11 weeks. On Thursday, Powell stressed: “I don’t think that a recession is inevitable.” He has said it’s ”certainly a possibility” and that the central bank is facing a more challenging task amid the war in Ukraine essentially pushing oil and other commodity prices even higher and making inflation even more pervasive. Powell spoke to Congress a week after the Fed raised its benchmark interest rate by three quarters of a percentage point, its biggest hike in nearly three decades. Fed policymakers also forecast a more accelerated pace of rate hikes this year and next than they had predicted three months ago, with its key rate to reach 3.8% by the end of 2023. That would be its highest level in 15 years. The Labor Department reported Thursday that fewer Americans applied for jobless benefits last week, though it was slightly more than economists expected. The solid job market is a relatively bright point in an otherwise weakening economy, with consumer sentiment and retail sales showing increasing damage from inflation. As higher prices stretch pocketbooks, consumers are shifting spending from big ticket items like electronics to necessities. The pressure has been worsened by record-high gasoline prices that show no sign of abating. Big technology and health care companies did much of the heavy lifting. Microsoft rose 2.3% and Johnson & Johnson rose 2.2%. Energy stocks fell as the price of U.S. crude oil dropped 1.8%. Valero fell 7.6%. Early Friday, U.S. benchmark crude oil was up 36 cents at $104.63 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the basis for pricing for international trading, shed 9 cents to $106.55 per barrel. Bond yields fell significantly. The yield on the 10-year Treasury note, which helps set mortgage rates, fell to 3.09% from 3.15% late Wednesday. The U.S. dollar fell to 134.73 Japanese yen from 134.94 yen. The euro rose to $1.0539 from $1.0524.