Asian Shares Mixed In Cautious Trade

(RTTNews) - Asian stocks ended mixed on Friday despite a retreat in U.S. Treasury yields and comments from a Federal Reserve official that the U.S. central bank might lower interest rates in 2025 if tariff issues are resolved.

The dollar was on course to snap a four-week winning streak due to U.S. fiscal health worries. Gold headed for its biggest weekly jump in 1-1/2 months on safe-haven demand.

Oil prices fell for a fourth consecutive session and headed for its first weekly loss since April as traders braced for a potential supply boost from OPEC+.

China's Shanghai Composite index fell 0.94 percent to 3,348.37 despite efforts by the country's central bank to boost spending. Hong Kong's Hang Seng index finished 0.24 percent higher at 23,601.26 after a volatile session.

Japanese markets closed higher on the back of falling yields. The Nikkei average rose 0.47 percent to 37,160.47 while the broader Topix index closed up 0.68 percent at 2,735.52.

Investors shrugged off government data that showed core inflation accelerated to 3.5 percent in April, the highest level in more than two years because of rising food and energy costs.

The yen ticked higher as hotter consumer inflation data raised the odds of another interest rate hike by year-end.

Seoul stocks fluctuated before finishing marginally lower for the day amid a lack of catalysts. Data released earlier in the day showed producer prices in the country fell for the first time in six months in April.

Samsung Biologics plummeted nearly 6 percent, LG Energy Solution gave up 2.4 percent and Hyundai Motor dropped 1.4 percent.

Financials bucked the weak trend, with KB Financial rand Shinhan Financial both rising around 2 percent.

Australian markets eked out modest gains amid expectations for aggressive interest rate cuts by the Reserve Bank of Australia.

The benchmark S&P ASX 200 edged up by 0.15 percent to 8,360.90 while the broader All Ordinaries index settled 0.18 percent higher at 8,586.70.

Uranium miners surged after reports that U.S. President Donald Trump plans to sign an executive order to revitalize the nuclear energy sector. Paladin Energy jumped 6.7 percent, Boss Energy soared over 12 percent and Deep Yellow rallied 8.3 percent.

Across the Tasman, New Zealand's benchmark S&P NZX-50 index ended down 0.52 percent at 12,596.50 despite retail sales figures for the first quarter of 2025 coming in above expectations.

Overnight, U.S. stocks ended narrowly mixed as the House of Representatives passed a controversial bill that could add trillions to the federal government's already massive debt and widen the deficit at a time when the economy is facing the risk of stagflation due to tariff uncertainty.

The tech-heavy Nasdaq Composite rose 0.3 percent as Treasury yields eased from recent highs on improved readings concerning business activity, output expectations, weekly jobless claims and existing home sales. The Dow and the S&P 500 both finished marginally lower.