Most Asian equity markets continued to ignore record highs hit elsewhere in the world and fell in early trading on Friday, though Australia bucked the trend.
also closed at record highs for the third consecutive day. Big technology stocks drove the market higher as investors warmed to jobs data showing a steady U.S. economic recovery.had equalled their longest winning streak since 2017, closing up 0.1% and extending gains for a ninth consecutive session.
The dollar held firm on Friday, staying near its highest level in four months against a basket of currencies as investors looked for more hints from the Federal Reserve on its plans to reduce monetary stimulus.Analysts at Commonwealth Bank of Australia said a tapering announcement next month was not currently widely expected.
"However, we expect market participants to be given some hints about tapering in next week’s FOMC minutes and Chair Powell’s speech at Jackson Hole at the end of the month," they wrote in a note. The yield on benchmark 10-year Treasury notes was last 1.3506%, little changed from its U.S. close of 1.367% on Thursday.
Oil prices fell for a second straight day after the International Energy Agency warned that demand growth for crude and its products had slowed sharply.
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