China analyst recaps Asian stock markets' Friday performance

Hong Kong stocks edged higher on Friday powered by renewed optimism on Chinese chipmakers, while Tokyo stocks fell on a stronger yen as the rate hike speculation of the Bank of Japan (BOJ) grows, according to a market analyst.

Hong Kong stocks ended higher on Friday with the benchmark Hang Seng Index up 0.58 percent to close at 26,085.08 points.

The Hang Seng China Enterprises Index gained 1.01 percent to end at 9,198.3 points, and the Hang Seng Tech Index rose 0.84 percent to close at 5,662.46 points.

The 225-issue Nikkei Stock Average ended down 536.55 points, or 1.05 percent, from Thursday at 50,491.87, after briefly dropping over 800 points. The broader Topix index finished 35.65 points, or 1.05 percent, lower at 3,362.56.

Timothy Pope, a market analyst, recapped stock market performances in Hong Kong on Friday. He noted Chinese internet giant Baidu made gains following news reports regarding its artificial intelligence division.

"Baidu was the standout there, rising 5 percent after Reuters reported that its AI division Kunlunxin is planning a Hong Kong IPO. Kunlunxin only just completed a funding round actually, which saw it valued at around 21 billion yuan, which is almost 3 billion U.S. dollars. And this takes us back to what I was just saying really about the rush among Chinese chip and AI stocks looking for listings. So, this is very much true on the Hong Kong Exchange, as it is in Shanghai and Shenzhen. On the more traditional front, we saw gains for the publishing group China Literature today. Its stock was up 1.8 percent after it announced a pretty hefty share buyback. It's going to be spending up to 1.2 billion Hong Kong dollars on that," he said.

Tokyo stocks retreated Friday, weighed down by selling of exporter shares as the yen strengthened on speculation the Bank of Japan (BOJ) may lift interest rates this month, despite apparent reluctance from Japanese Prime Minister Sanae Takaichi, according to Pope.

"Over in Japan, we saw the markets going the other way today. The Nikkei 225 snapped a three-session winning streak to close down by 1 percent. It is still hanging on above 50,000 points though. A lot of this was renewed expectations of an interest rate hike by the Bank of Japan (BOJ). The markets are pretty confident that the Bank of Japan is going to raise interest rates. That's been stoked by recent comments from the BOJ governor. He apparently has been having talks with the prime minister, who has previously been thought of to be a little bit negative towards an interest rate hike so soon in her premiership. But of course, the bank doesn't meet for another two weeks or so. In the meantime, we're going to have another meeting from the Fed, which is widely expected to deliver a rate cut in the United States," said the analyst.

China analyst recaps Asian stock markets' Friday performance

Passengers and tourism sector in Buenos Aires have hailed the launch of the first direct air route between China and Argentina, believing the twice-weekly service will boost tourism and ties between the two countries.

China Eastern Airlines' flight MU745 touched down in Buenos Aires on Thursday afternoon, marking the official launch of the first direct air route between China and Argentina.

The flight departed Shanghai Pudong International Airport at 02:19 Beijing time on Thursday, made a two-hour stopover in Auckland, New Zealand, and arrived at Buenos Aires' Ezeiza International Airport after a whole flight of about 25 hours and 30 minutes.

Passengers on the flight were greeted with applause and emotional reunions upon arrival.

"Actually, it's my dream to come to South America, including Argentina. It's kind of a challenge for our age. We're over 50! [If] 30, it's fine. The flight is convenient and comfortable," said Jack, a Chinese tourist.

This is the first direct flight linking South America and China. Before this route opened, the options available to those traveling between South America and China was to fly via Europe, via North America, or via the Middle East, with time in the air well over 30 hours.

"[When I traveled to China,] I went via Frankfurt. I had a 10-hour layover, so it was very long. This flight was 26 hours in total," said Emilio del Campo, another passenger.

Spanning over 20,000 kilometers, the new link has broken the record for the world's longest one-way flight.

"Everyone was waiting for this flight. We all were. Everyone was wondering when tickets would go on sale. From hotels waiting for Chinese tourists to come, to everything related to the tourism sector. And there are also Argentinians who want to experience this new route," said Cristina Hung, a business manager with Hungs Tourism.

For 25 years, this agency in the Chinese neighborhood in Buenos Aires has sold travel packages for those traveling between the two countries.

"[The flight] will comprehensively promote such areas as tourism, trade, and culture. It will make a wide range of activities easier, from economic missions and trade fairs to investment, academic collaboration, and more," said Ana Wang, manager of the travel agency.

First direct air route between China, Argentina hailed by passengers, tourism sector