Asian stocks closed the week mixed on Friday, with rising banking stocks enabling several indices to post significant weekly gains.
U.S. stock futures were mixed, with the Nasdaq 100 recently down 0.54% after yesterday’s tech selloff but Dow Jones futures up 0.09% after that benchmark yesterday rose to a record.
In Sydney the S&P/ASX 200 closed up 0.79% at 5,7370.74, which was up 3.79% on the week.
National Australia Bank closed up 4.2%, Australia & New Zealand Banking Group rose 2.6% and Westpac gained 3.1% as bank investors worldwide anticipated looser regulation, including a potential repeal of Dodd-Frank legislation, after comments yesterday from President-elect Donald Trump.
Gas producer Santos closed up 6.4% after news China’s Hony Capital had raised its stake in the company.
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In Tokyo the Nikkei 225 closed up 0.18% at 17,374.79. That’s up 2.8% on the week. Mitsubishi UFJ Financial led the gainers, rising 13.4%, as the company prepares to report first-half earnings on Monday.
In Hong Kong the Hang Seng bucked the positive trend and was recently down 1.42% at 22,515.38, which is down on the week. But there too banks were among the main gainers, including HSBC (HSBC) , Bank of East Asia and Hang Seng Bank.
On mainland China the CSI 300 composite index was recently up 0.78% at 3,417.22.
The dollar was recently down against the yen, the euro, and the Swiss franc, though edged up 0.07% against the Mexican peso with one dollar buying 20.5908 pesos. Against South American companies the dollar was up significantly, rising 5.21% against the Brazilian real and 3.89% against the Colombian peso.