MSCI’s broadest index of Asia-Pacific shares have drifted 0.3 per cent higher in trade thinned by a holiday in Hong Kong.
Japanese stocks sparkle as US debt talks continue
Stocks were subdued on Friday, apart from standout gains in Japan, as an artificial intelligence rally took a breather and as time ticked out on high-stakes talks to avoid a US debt default.
MSCI’s broadest index of Asia-Pacific shares outside Japan drifted 0.3 per cent higher in trade thinned by a holiday in Hong Kong. The index is down 1.6 per cent on the week.
Japan’s Nikkei, by contrast, rose 0.7 per cent and is riding momentum from foreign inflows and basking in the afterglow of revenue and production upgrades for US chipmaker Nvidia that have set Japanese firms with exposure soaring.
The Nikkei is up 0.7 per cent on the week, too, for a seventh weekly gain in row – its longest weekly winning streak in five years and one which has added some $US460 billion ($A707 billion) to Japanese stocks.