The Hang Seng Index rebounded from the Thursday pullback despite no fiscal stimulus measures from Beijing. Nonetheless, investors remained hopeful lawmakers would introduce more measures to support the economy.
Notably, the Nikkei brushed aside a stronger Yen, with the bulls eyeing a return to 40,000.
Tech stocks contributed to the Friday gains across the Asian equity markets. The S&P ASX All Technology Index (XTX) was up 0.97%, with the Hang Seng Tech Index (HSTECH) up 0.83%. On the Nikkei, Tokyo Electron Ltd. (8035) and Softbank Group Corp. (9948) were up 3.02% and 2.30%, respectively.
Bank of Japan Pivot Plans Intact Despite Slump in Household Spending
In Japan, private consumption figures failed to impact bets on an April Bank of Japan pivot from negative rates. Household spending tumbled 2.1% month-on-month in January. Economists forecast household spending to increase…
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