Japan’s Nikkei fell 2% on Friday, reversing early gains and setting up a weekly loss as traders booked profits in high-flying tech stocks heading into the weekend. The index closed at 61,409.29 after dropping about 1,245 points. Chip-testing leader Advantest slid 7.9%, cutting 544 points, while Tokyo Electron fell 1.8%. Fujikura sank 7.4% following Thursday’s 19% plunge tied to weak data-centre cable forecasts. Topix ended slightly lower and remained supported by energy and automakers.
Indian markets are holding steady after election results, with Sandip Sabharwal pointing to governance and policy continuity as key supports. He says banking stocks are consolidating, yet asset quality remains strong. The earnings season is expected to reward select names, especially auto and power equipment makers, while small and midcaps continue to outperform on persistent domestic flows.
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