ASIA markets ended mixed on Friday (Apr 26) as investors watched for further macroeconomic data, while persistent inflation continues to weigh on concerns of higher-for-longer rates.

The Straits Times Index (STI) lost 0.2 per cent or 7.65 points to end at 3,280.10. Across the broader market, gainers outnumbered losers 327 to 242, after 1.6 billion securities worth S$1.2 billion changed hands.

Elsewhere in Asia, the Nikkei 225 gained 0.8 per cent, the Hang Seng Index rose 2.1 per cent, and the FTSE Bursa Malaysia KLCI was up 0.4 per cent, while the IDX Composite Index fell 1.7 per cent.

Stephen Innes, managing partner at SPI Asset Management, said that the Bank of Japan’s policy announcement was a focus for Asia on Friday, while investors also revelled in the latest earnings reports from US mega-tech companies.

Meanwhile, a jump in core inflation in the United States sparked concerns on whether the worst-case scenario has been adequately priced in.

Investors would undoubtedly find it challenging to navigate a situation where rate cuts for 2024 are off the table, he noted.

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The upcoming release of the US personal consumption expenditures data will be a crucial juncture for equity investors, offering a key insight into market sentiment, said Innes.

“The pivotal question revolves around the relative influence of earnings versus yields on equity markets,” he added.

Seatrium was the top gainer on the STI, rising 1.1 per cent or S$0.001 to S$0.089.

Meanwhile, Venture Corp was the biggest decliner, falling 1.3 per cent or S$0.19 to S$14.11.

The local banks ended lower on Friday. DBS fell 0.1 per cent or S$0.03 to S$34.42, OCBC declined 0.4 per cent or S$0.06 to S$14.27, while UOB fell 0.4 per cent or S$0.11 to S$30.41.