In Asian Equity Markets the Nikkei 225 in Japan rose 0.89 percent and the Topix added 0.39 percent, with shares of conglomerate Softbank Group gaining 1.22 percent. In Australia, the ASX 200 advanced 0.53 percent, with most sectors seeing gains. Hong Kong's Hang Seng index edged up 0.32 percent. South Korea's markets, which fell on Thursday following the abrupt end to the summit between U.S. President Donald Trump and North Korean leader Kim Jong Un, are closed on Friday for a holiday.
In Currency Markets the U.S. dollar scaled a 10-week high against the yen on Friday, thanks to a surge in Treasury yields after U.S. gross domestic product data topped expectations. The greenback was rose roughly 0.3 percent to 111.77 yen, its strongest level since Dec. 20. The Australian dollar was little changed at $0.7093, stabilizing after suffering sharp losses the previous day. The Aussie took a hit on Thursday after a disappointing reading on Chinese manufacturing overshadowed a solid report on domestic business investment.
In Commodities Markets oil prices rose on Friday as markets tightened amid output cuts by producer club OPEC, but surging U.S. supply and a global economic slowdown prevented crude from climbing further. U.S. West Texas Intermediate (WTI) crude oil futures were at $57.45 per barrel at 0116 GMT, up 23 cents, or 0.4 percent, from their last settlement. International Brent crude futures were at $66.55 per barrel, up 24 cents, or 0.4 percent. Wheat has under pressure amid concerns about the prospects for U.S. exports due to stiff global competition.
In US Equity Markets main indexes fell slightly on Thursday as support from better-than-feared U.S. GDP data was countered by concerns about earnings and U.S.-China trade relations. The S&P 500 lost 0.28 percent, to 2,784.49 and the Nasdaq Composite fell 0.29 percent, to 7,532.53. Of the 11 major S&P 500 sectors, the materials sector was the biggest percentage decliner with a 1.27 percent decline. The healthcare sector fell 0.3 percent with drags from UnitedHealth, down 3 percent on concerns about the potential for a single-payer U.S. healthcare system.
In Bond Markets U.S. Treasury yields rose on Thursday after stronger-than-expected gross domestic product data suggested fears of an impending recession may be overblown. Yields across maturities ticked up, with the biggest gains recorded in the middle of the yield curve. The benchmark 10-year government yield, a proxy for market sentiment about the overall health of the economy, was up 3.1 basis points, last at 2.724 percent. Two-year yields, which reflect market expectations of Federal Reserve interest-rate hikes, rose by 1.8 basis points.