Asian stocks are mostly higher, while Japan's Nikkei falls ahead of weekend election

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Asian stocks are mostly higher aside from in Japan, where investors are awaiting the outcome of an election on Sunday.

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A currency trader passes by a screen showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, Oct. 25, 2024. Tokyo’s Nikkei 225 index lost 1% to 37,771.79, while the Japanese yen rose against the U.S. dollar. Early Friday, the dollar was trading at 151.64 yen, down from 151.89 yen.China’s central bank kept its medium-term lending rate unchanged at 2%. It also issued 700 billion yuan in one-year medium-term lending facility loans to financial institutions, according to the bank’s statement.

The Dow Jones Industrial Average fell 0.3% to 42,374.36 and the Nasdaq composite rose 0.8% to 18,415.49.for the latest quarter than analysts expected. An optimistic CEO Elon Musk also predicted 20%-30% sales growth next year, though revenue for the latest quarter fell short of analysts’ forecasts. It was the best day for Tesla’s stock since 2013., which has crippled aircraft production.

 

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