Asian markets reverse gains, Nikkei slightly lower after touching record levels

Japan (NKY:IND) -0.08% Nikkei 225 hit a record high, crossing the 41,000 mark for the first time, before losing steam. The index of coincident economic indicators in Japan, which covers a range of data, such as factory output, employment, and retail sales, rose to 116.5 in May 2024.

China (SHCOMP) -0.22% with mainland stocks remaining under heavy selling pressure as investors awaited signals of further policy support.

Hong Kong (HSI) -0.81% ending strength from the prior four sessions with all sectors in the red. Investors awaiting several Chinese data due next week, including CPI and PPI numbers for June and new yuan loans.

Retail sales in Singapore rose by 2.2% year-on-year in May 2024.

Foreign exchange reserves in Indonesia increased to $140.2B in June 2024.

India (SENSEX) -0.27% halting gains from the prior two sessions amid losses from banking and financial services.

Australia (AS51) -0.20% paring gains from the previous day as investors turned cautious ahead of a crucial US jobs report that could influence Fed interest rate decisions.

New Zealand market moved high ahead of the Reserve Bank of New Zealand’s policy meeting next week. The central bank is considered certain to hold rates at 5.5%, and is likely to maintain a cautious stance.

U.S. markets remained closed on Thursday on the occasion of Independence Day, and futures were little changed ahead of Friday’s trading session.

Bitcoin fell below $55,000 on Friday, touching the lowest levels seen in late February, losing about 13% so far this week in what analysts attributed to further liquidations by leveraged investors.

Currencies: (JPY:USD), (CNY:USD), (AUD:USD), (INR:USD), (HKD:USD), (NZD:USD).