Asian Stocks Rally, European Shares Retreat

European shares saw a decline early on Friday while Asian benchmarks experienced a rise following the record-breaking performance of US stocks.

Britain’s FTSE 100 also shed nearly 0.2% to 7,680.05.

France’s CAC 40 inched up by less than 0.1% to 8,019.83, whereas Germany’s DAX dipped by 0.1% to 17,823.36. Britain’s FTSE 100 also shed nearly 0.2% to 7,680.05.

Meanwhile, US shares were expected to trade mixed, with Dow futures down slightly at 38,813.00, and S&P 500 futures adding a marginal 0.1% to 5,166.25, according to Yuri Kageyama's report for the Associated Press (AP).

In Asia, Japan’s Nikkei 225 index rose by 0.2% to finish at 39,688.94, while Sydney’s S&P/ASX 200 surged by 1.1% to 7,847.00. South Korea’s Kospi also experienced a notable increase of 1.2% to reach 2,680.35.

Similarly, Hong Kong’s Hang Seng climbed by 0.8% to 16,353.39, and the Shanghai Composite rebounded from early losses to close 0.6% higher at 3,046.02.

Despite relatively positive economic data from the region, investors remained cautious, anticipating potential higher interest rates, particularly in Japan, as the economy shows signs of recovery.

Investor attention is drawn to the upcoming US government's monthly update on the job market, which could influence the Federal Reserve's decisions on interest rates.

In energy trading, benchmark US crude rose to $79.70 a barrel, while Brent crude gained to $83.60 a barrel. The US dollar inched up to 147.92 Japanese yen from 147.90 yen, while the euro slipped to $1.0935 from $1.0951 in currency trading.

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