A currency trader walks by the screen showing the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Friday, May 31, 2024. Currency traders watch computer monitors near the screens showing the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Friday, May 31, 2024.
Hong Kong’s Hang Seng index jumped 1.2% to 18,446.05 and the Shanghai Composite index was up 0.3% at 3,099.72.Taiwan’s Taiex dropped 0.9% as shares in the market’s biggest heavyweight, computer chip maker Taiwan Semiconductor Manufacturing Corp., fell 2%, tracking declines for other major technology companies.
Friday will bring a monthly update on a gauge of inflation that the Federal Reserve prefers to use. The tail end of earnings reporting is another driver for the market. Profits have largely been better than expected for the start of 2024.even though its revenue fell short last quarter, and its stock rose 13.4%. Foot Locker ran 15% higher after likewise reporting better-than-expected profit despite ringing up sales shy of analysts’ forecasts.
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