Asian stocks closed lower on Friday, with major markets in the region recording declines as investors sentiment turned cautious after recent gains seen earlier in the week.
In Japan, the Nikkei 225 fell 128.76 points, or 0.6%, to 22,694.50, after four straight sessions of gains. Banking stocks and technology slipped while consumer stocks edged higher.
In Hong Kong, the Hang Seng Index tumbled 554.42 points, or 1.8%, to 30,958.21, with all sectors trading lower in the afternoon. Technology stocks fell 3.3% and financials were 1.9% lower, with Tencent tumbling 3.5% ahead of the the market close.
Korean indexes shuddered, as automakers, steelmakers and technology dragged the index lower. Index heavyweight Samsung Electronics fell 1.9%
CHINA
In Shanghai, the CSI 300 dropped 51.39 points, or 1.3%, to 3,779.62
Trade developments also continued to feature prominently, with U.S. Commerce Secretary Wilbur Ross telling the media that a deal had been reached with Chinese telecommunications equipment maker ZTE, which had been crippled after U.S. companies were blocked from selling to it.
The deal will impose a $1-billion penalty on ZTE, which will also need to install a U.S.-chosen compliance team, but is facing some pushback from U.S. lawmakers.
In other markets
In Singapore, the Straits Times index hesitated 36.71 points, or 1.1%, to 3,436.37
In Korea, the Kospi index lost 19 points, or 0.8%, to 2,451.58
In Taiwan, the Taiex Index subtracted 95.33 points, or 0.9%, to 11,156.42
In New Zealand, the NZX 50 gained 38.93 points, or 0.4%, to 8,938.45
In Australia, the ASX 200 slumped 12.11 points, or 0.2%, to 6,045.18
