AFP, Hong Kong :
Asian markets turned lower Friday as investors struggled to take the lead from a record performance on Wall Street, and following below-forecast Chinese factory data.
News that US growth had accelerated more than six percent in the first quarter and jobless claims continued to fall to new pandemic-era lows reinforced the view that the recovery in the world’s top economy was well on track.
That came after the head of the Federal Reserve had reiterated the bank’s commitment to keeping monetary policy ultra-loose until it is satisfied the economy is strong enough.
In response the S&P 500 hit another record, helped by a string of outsized earnings from tech heavyweights including Apple, Facebook and Google.
But, after a broadly upbeat week Asia was unable to build on the positive run, with most markets in negative territory.
Hong Kong led the losses, with tech firms including JD.com, Meituan and Tencent taking a hit after China ramped up its crackdown on the sector by summoning 13 companies to call for changes to their fintech operations.
