Stocks in the Asia-Pacific region ended broadly higher on Friday, but the Chinese indicator closed lower after the publication of data indicating a slowdown in business activity in the service sector.
Market participants also evaluated the results of the meetings of the world’s leading central banks. Thus, on the eve of the European Central Bank expected to raise all three key interest rates by 25 basis points (bp). Thus, the base interest rate on loans is now 3.75%, the rate on deposits is 3.25%, and the rate on margin loans is 4%.
On Wednesday, the US Federal Reserve also raised its key interest rate by 25 bp, now its range is the maximum since 2007, 5-5.25% per annum.
The Chinese stock index Shanghai Composite lost 0.5%.
As it became known on Friday, the Purchasing Managers’ Index (PMI) in China’s services sector, calculated by Caixin Media and S&P Global, fell to 56.4 points in April compared to 57.8 points a month earlier, when the indicator hit a high since November 2020. of the year.
Consolidated PMI fell to its lowest level in three months – to 53.6 points against 54.5 points in March.
The Hong Kong Hang Seng Index rose 0.5% to end the week up 0.8% after two consecutive weeks of declines.
The growth leaders were developers: the capitalization of Country Garden Holdings grew by 5.5%, Hang Lung Properties – by 4.2%, China Overseas Land – by 3.3%.
Baidu (up 3.8%), Ali Baba Health IT (3.2%) and China Unicom (3%) also rose in price.
The Australian S&P/ASX 200 rose 0.37%.
The index was supported by the news that the volume of mortgage loans issued in Australia in March unexpectedly increased by 5.5% compared to February and reached 16 billion Australian dollars. Analysts had expected a 1% drop.
BHP Group rose 0.2% on Friday, Rio Tinto shed 0.7%, Fortescue Metals 0.2%.
Shares of National Australia Bank were down 0.5%, Westpac Banking were up 0.5% and ANZ Group were up 0.1%.
Exchanges in South Korea and Japan were closed on Friday in connection with the celebration of Children’s Day.