(Bloomberg) — Stocks in Asia struggled for traction Friday after US shares inched to a record as many markets in the region shutdown for public holidays.
Futures contracts for Hong Kong’s Hang Seng Index fell, indicating a third daily decline for the index, which has faced volatile trading this week as China attempts to stem the country’s equity market slump. Prior efforts to arrest market declines, notably in 2015, may not work this time around, investors warn.
The Golden Dragon index of US-listed Chinese companies fell 1.1% in New York, indicating further pressure ahead in a day disrupted by holidays, including for Chinese New Year. Markets will close early Friday in Hong Kong and Singapore and will be shut in mainland China, Taiwan, South Korea, Indonesia, the Philippines and Vietnam.
The S&P 500 closed 0.1% higher, just below 5,000 index points — a threshold it hit during the session on Thursday. The closing level set a…
