MARKETS: China’s stock markets on the rise

Asian markets were on the rise on Friday, with the exception of Japan.

At the time of review, mainland China’s CSI 300 index was up 0.8 percent, Hong Kong’s Hang Seng index was up 2.0 percent, and Japan’s Nikkei index was down 0.1 percent. Korea’s Kospi index was up 0.9 percent.

The rise spread to Asia from the United States, where the S&P 500 index rose to record highs President Donald Trump’s talked about in favor of lower interest rates and cheaper oil prices.

Trump also commented that he would prefer not to impose tariffs on China, although the possibility of doing so would give the United States power over China. Bloomberg’s according to the experts interviewed, Trump’s comments may indicate that the United States would be willing to negotiate with China before imposing restrictions, although it is difficult to believe that Trump would completely back off from imposing tariffs and restrictions.

As expected, the Bank of Japan raised the key interest rate by 25 basis points to 0.5 percent. The central bank also hinted that interest rate hikes may continue in the future at a faster pace than before. The Japanese currency yen strengthened against the dollar after the interest rate decision.

Japan also announced inflation figures, according to which core inflation rose to 3.0 percent year-on-year in December.

Next week, China’s stock market will be closed for New Year’s celebrations.

At 8:30 a.m. one euro was worth 1.05 dollars, 162.28 yen, 0.84 pounds and 11.46 Swedish kronor. The dollar was 155.23 yen and the pound was 1.24 dollars.

Based on futures, Wall Street is expected to open downward.

Europe is expected to rise.