Singapore index adds 1.8 percent for new record

New records were set in equities markets in both Hong Kong and Singapore on Friday. In Hong Kong the Hang Seng added 1.27 percent to 23,099.29, while the Straits Times index in Singapore gained 1.8 percent to 3,654.61 In India, the Sensex also saw gains as it jumped 1.2 percent to 15,272.72. In Australia the Sydney Ordinaries were up a more modest 0.4 percent to 6,425.4. The Tokyo markets also saw significant gains as the Nikkei 226 added 1.42 percent to 18,238.95 and the Topix index gained 1.14 percent to 1,783.2. The semiconductors sector in Tokyo managed a recovery, and the electronics sector was also higher, but retailers saw declines. Japan’s markets will close for the Maritime Day holiday on Monday.

Wall Street was mixed in midday trade, but the S&P 500 looked to be ready to close at an all-time high. At mid-session, the S&P was up 0.1 percent to 1,548.47. The Dow Jones Industrial Average was also higher, up 0.1 percent as well to 13,881.64 after going as high as a new record of 13,910.26. On the other hand, the Nasdaq Composite had dropped 0.2 percent to 2,695.09. There were new all-time highs in the computer, internet, and oil sectors. Aluminium producers were higher on bids news, and manufacturers and consumer goods groups saw gains on purchase announcements.

Markets in Europe were higher as well, with the FTSE Eurofirst 300 adding 0.39 percent to 1,627.68. In Paris, the CAC-40 was 0.24 percent higher to 6,117.96, while the Dax gained 0.49 percent to 8,092.77 in Frankfurt and the IBEX was up 0.55 percent to 15,023.5. Banks, the insurance sector, and other financial services-related business saw gains, as did utilities, the chemicals sector, and businesses that manufacture hardware for use in electrics systems. Carmakers were lower, however, as were construction and related businesses, airlines, and foods groups.

In London, the FTSE 100 was 0.28 percent higher to 6,716.7 and the FTSE 250 gained 0.96 percent to 11,922.9. Miners were lower, but banks and other financial services-related groups did well. Asset managers, however, were mixed on the session. The business services sector, chemicals groups, and the oil sector all saw gains. Besides the mining sector, engineers and retailers saw declines.

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