Asia-Pacific markets trade mixed, South Korea’s Kospi index up almost 0.9%

SINGAPORE — Asia-Pacific markets traded mixed on Friday as investors kept an eye on negotiations over additional fiscal stimulus in the U.S.

South Korea’s Kospi index rose 0.85% after market open. Government data released Friday showed the country’s exports in the first 10 days of December jumped 26.9% from a year ago thanks to a sales boost in major products such as semiconductors, Reuters reported.

In Japan, the Nikkei 225 declined 0.24% while the Topix index rose 0.2%.

Australia’s benchmark ASX 200 fell 0.37%, with most sectors trading in the red. The heavily-weighted financials subindex declined 0.67% as the country’s so-called Big Four banks struggled for gains.

Friday’s session followed a mixed end on Wall Street where the S&P 500 registered back-to-back losses — U.S. futures traded flat.

Markets are “having to balance a weak short-term picture against a much rosier medium-term as vaccines start to be rolled out,” said Tapas Strickland, director of economics and markets at the National Australia Bank, in a morning note. “In this environment equities have largely held onto recent gains.”

The U.S. dollar index, which measures the greenback against a basket of its peers, last traded at 90.824.

The Japanese yen changed hands at 104.1 per dollar, strengthening from an earlier level around 104.27. Elsewhere, the Australian dollar slipped fractionally lower to $0.7529.

Oil prices rose during Asian trading hours on Friday: U.S. crude futures were up 0.53% at $47.03 a barrel.

Global benchmark Brent meanwhile gained more than 3% in the overnight session.