Asia Closes Week Mixed


Major Asian markets closed mixed on Friday, following losses seen on Wall Street and amid investor concerns about the trade dispute between the U.S. and China.

In Japan, the Nikkei 225 forfeited 176.21 points, or 0.8%, to end the week at 22,516.83. Losses were seen across most sectors, with automaker stocks down 1.4% and among the day's worst-performing sectors.

Against the yen, the U.S. dollar was steady at at 109.87.

In Hong Kong, the Hang Seng gained 42.65 points, or 0.2%, to 29,338.70, with stocks in the utilities and services sectors leading broad-based gains on the index before the market close.

In Australia, heavily weighted financials rose, but those gains were offset by declines in most other sectors. Telecommunications stocks fell as Telstra declined for the third straight day.

In corporate news, Samsung Securities fell 2.9% after South Korea's financial regulator proposed late on Thursday that some of company's operations be suspended for six months following a "fat finger" error that took place earlier this year.

For the week, markets in Asia remained under pressure after taking a hit earlier this week on trade-related fears

Ahead, all eyes will be on the Organization of the Petroleum Exporting Countries and its allies as they meet in Vienna later on Friday.

Markets are expecting the oil producers to ease production cuts that have been in place since 2017, with Reuters reporting early on Friday that Saudi Arabia's energy minister said the consensus was for output to be increased by one million barrels per day.

CHINA

In Shanghai, the CSI 300 tacked on 15.93 points, or 0.4%, to 3,608.90

Even with Friday's gains, China's Shenzhen composite was down more than 6% for the week.

In other markets

In Singapore, the Straits Times Index lost 12.6 points, or 0.4%, to 3,287.4

The Taiex index fell 41.79 points, or 0.4%, to 10,899.28

In Korea, the Kospi index regained 19.39 points, or 0.8%, to 2,357.22

In New Zealand, the NZX 50 inched up 0.59 points to 8,999.37

In Australia, the ASX 200 faded 6.91 points, or 0.1%, to 6,225.23