Asian stock markets were mostly higher on Friday, although trading was light due to the Good Friday holiday. This followed a rocky day on Wall Street, where the Dow Jones dropped 1.3%, mainly because UnitedHealth’s shares fell over 20% after reporting weaker-than-expected profits.
In Asia:
- Japan’s Nikkei 225 rose 0.6% to 34,583.29.
- South Korea’s Kospi gained 0.3% to 2,478.39.
- Taiwan’s Taiex jumped 0.8%, boosted by strong earnings from Taiwan Semiconductor Manufacturing Co. (TSMC).
TSMC reported profits that matched what analysts were expecting and said its customers haven’t reduced orders, despite concerns from other companies. However, TSMC’s CFO, Wendell Huang, warned that future risks remain, especially due to possible tariffs. TSMC’s U.S.-listed shares went up 0.1% on Thursday.
China’s Shanghai Composite index slipped 0.3% to 3,272.09. Many global markets remained closed on Friday because of Easter.
Also See: China’s Rare Earth Export Limits Spark Rush for America’s Only Rare Earth Mine Amid Trump’s Tariffs
In the U.S.:
- The S&P 500 edged up 0.1% to 5,282.70, with most stocks in the index rising.
- The Nasdaq dropped 0.1% to 16,286.45.
- The Dow Jones fell by 527 points after UnitedHealth warned that its Medicare Advantage customers needed more care than expected. It was the company’s worst stock drop since 1998.
Oil and gas companies saw gains as crude oil prices rebounded:
- Diamondback Energy rose 5.7%.
- Halliburton went up 5.1%.
- U.S. crude oil rose by $2.18 to $64.01 per barrel.
- Brent crude increased by $2.11 to $67.96 per barrel. Oil markets were closed on Friday for the Easter break.
Trade tensions continued as a concern. U.S. President Donald Trump hinted that talks with other countries might lower tariffs, but he also criticized Federal Reserve Chair Jerome Powell, saying he acts too slowly. Trump suggested that Powell should be removed, which worried investors. The Federal Reserve is meant to be independent from the government to keep the economy stable.
Read More: Boom or Bubble? What’s Fueling the Relentless Indian Stock Market Rally
In the bond market, the 10-year Treasury yield increased slightly to 4.32%. It had fallen earlier in the week after rising last week, which had caused fears that the trade war could hurt U.S. investments.
Economic data in the U.S. was mixed:
- Job data showed a strong labor market.
- But manufacturing in the mid-Atlantic region unexpectedly shrank.
In Europe, markets also dropped:
- France’s index fell 0.6%.
- Germany’s index slipped 0.5%.
Currency update:
- The U.S. dollar was at 132.42 Japanese yen, slightly down from the previous day.
- The euro rose to $1.1373 from $1.1367.
Overall, while some markets are showing signs of strength, global economic uncertainty—especially around trade and central bank actions—continues to make investors cautious.
