Volatile Week Ends with Mixed Results Across Global Markets
Global markets wrapped up a volatile week on a mixed note, with Japan and South Korea leading gains while Hong Kong and parts of Europe fell.
The Nikkei 225 in Japan surged 2.60% for the week, driven by technology and semiconductor shares as well as softer US inflation data reducing expectations for an immediate Federal Reserve interest rate increase.
In contrast, Hong Kong's Hang Seng Index declined 3.16% from its Monday close to Friday's close, while Europe's STOXX 600 slipped 0.39% on the week despite strong earnings growth among European companies.
The oil price climbed again on Friday due to ongoing concerns about the security of the Strait of Hormuz and US-Iran tensions, which kept crude above $87 a barrel but limited enthusiasm in Europe.