Asian markets were mixed on Friday, as solid growth figures from Japan helped balance concerns over China, while oil prices edged lower ahead of the upcoming US-Russia summit

Asian stock markets posted a mixed performance on Friday, as stronger-than-expected growth data from Japan helped offset concerns over weak Chinese economic indicators, while oil prices eased ahead of a closely watched summit between US President Donald Trump and Russian President Vladimir Putin.

Japan’s economy grew 0.3% in the April–June quarter, with the previous quarter’s output revised higher, allowing the world’s fourth-largest economy to narrowly avoid a technical recession. The resilience came despite US tariffs on Japanese goods, including cars—a sector employing about 8% of Japan’s workforce. The data lifted Tokyo’s Nikkei 225 by 0.9% to 43,036.46 in morning trade. Shanghai (+0.3%), Seoul, and Sydney also posted modest gains, but Hong Kong’s Hang Seng Index slipped 1.1% to 25,236.62, weighed down by disappointing Chinese retail sales and industrial output figures.

China’s consumer sentiment remains fragile amid prolonged property market weakness, high youth unemployment, and mounting trade tensions with the US.

On Wall Street, US stocks closed flat on Thursday after stronger-than-expected wholesale inflation tempered expectations for an aggressive interest rate cut by the Federal Reserve. While a quarter-point cut is still anticipated, analysts—including Jack Ablin of Cresset Capital—see a larger 50-basis-point move as increasingly unlikely.

In corporate news, Intel surged 7.4% on reports that President Trump may consider investing in the struggling chipmaker in exchange for a government stake.

Oil prices slipped as markets focused on Friday’s Trump–Putin meeting in Alaska, aimed at discussing the Ukraine war. Traders fear a breakdown in talks could prompt tougher sanctions on Russian oil, potentially tightening global supply. “If the meeting doesn’t go well, we’ll see stronger sanctions on Russian oil, making it much more difficult for this oil to get to market,” warned Stephen Schork of the Schork Group.

Key figures as of 0230 GMT

Asian Markets:

• Tokyo – Nikkei 225: +0.9% at 43,036.46

• Hong Kong – Hang Seng: –1.1% at 25,236.62

• Shanghai – Composite: +0.3% at 3,675.05

Currencies:

• Euro/Dollar: $1.1658 (from $1.1657)

• Pound/Dollar: $1.3543 (from $1.3535)

• Dollar/Yen: ¥147.28 (from ¥147.76)

• Euro/Pound: 86.06 pence (from 86.05)

Oil Prices:

• WTI Crude: –0.2% at $63.84/barrel

• Brent Crude: –0.1% at $66.76/barrel

Major Western Markets (Thursday close):

• New York – Dow Jones: –<0.1% at 44,911.26

• London – FTSE 100: +0.1% at 9,177.24