Chinese stocks saw gains on Friday as investors looked ahead to a crucial policy meeting set to take place next week, while other markets across Asia tracked declines on Wall Street.
In Hong Kong, the Hang Seng index rose 1.5% during the final hour of trading, while mainland China’s CSI 300 gained 1.31%, closing at 3,973.14.
Market participants are optimistic that the upcoming meeting, where Chinese leaders are expected to set economic targets and discuss additional stimulus measures for 2025, could provide support for the country’s struggling economy. Investors are hoping for policies to counter the effects of mounting US tariffs and help stabilize growth.
Despite the positive movement in Chinese markets, other parts of the Asia-Pacific region saw losses on Friday. South Korea’s Kospi dropped 0.56%, ending at 2,428.16, while the Kosdaq index fell 1.43%. South Korea’s political uncertainty, including concerns over the potential impeachment of President Yoon Suk Yeol, weighed on investor sentiment.
In Japan, economic data showed mixed signals, with household spending falling by 1.3% year-over-year in October, although a monthly increase of 2.9% provided some positive momentum. The Nikkei 225 dropped 0.9% to 39,091.17, and the Topix index ended 0.55% lower at 2,727.22.
Meanwhile, India’s stock market remained relatively stable, with the Nifty 50 index showing a slight increase, after the country’s central bank held interest rates steady at 6.5% amid concerns about inflation.
Australian stocks also saw a dip, with the S&P/ASX 200 declining 0.64% to finish at 8,420.9.
