Asian stocks fluctuated Friday after another all-time record for the U.S. market overnight, as investors weighed the latest corporate earnings and solid economic growth data.
Shares were little changed in South Korea and Japan, where markets reopened after a holiday. Futures pointed lower in Hong Kong. U.S. contracts slipped following a new high for the S&P 500.
India’s SGX Nifty 50 Index futures for May delivery fall 1.3% to 14,744.00, while MSCI Asia Pacific Index -0.4%. The NSE Nifty 50 Index added 0.2% Thursday to 14,894.90.
China’s purchasing managers surveys signalled expansion in manufacturing and services activity in the world’s second-largest economy, after the U.S. reported growth at a 6.4% annualised pace in the first quarter.
Copper topped $10,000 a metric tonne for the first time since 2011, nearing that year’s record high as the global recovery stokes demand and mines struggle to keep up. Crude oil traded just below $65 a barrel.