Shares in Asia closed lower on Friday as China reported a slew of economic data that missed expectations, deepening worries about headwinds facing the world’s second largest economy.
The Nikkei 225 dissolved 441.36 points, or 2%, to finish the week at 21,816.19.
The Bank of Japan released the closely watched survey before Japanese markets opened on Friday. The Tankan survey showed confidence among large Japanese manufacturers was steady in December compared to three months ago. Economists had expected a deterioration in sentiment.
The Japanese economy contracted by 2.5% in the third quarter. The Japanese yen inched up slightly to 113.57.
In Hong Kong, the Hang Seng Index dropped 429.56 points, or 1.6%, to 26,094.79
Despite the figures, businesses in Japan were more pessimistic about their prospects in the coming three months.
Meanwhile, Apple screen supplier Japan Display surged around 35% after reports that the company was in talks with Chinese businesses and investment funds about potential alliances. Nothing has been decided but Japanese financial media Nikkei said possible partners include
Chinese state-owned Silk Road Fund, Chinese electronic parts maker O-film Tech and Chinese auto parts maker Minth Group.
CHINA
In Shanghai, the CSI 300 lost 53.78 points, or 1.7%, to 3,165.91
China reported that industrial production in November grew 5.4% year-on-year, lower than the 5.9% projected. Retail sales in the country rose 8.1% last month, below the 8.8% expected and the weakest pace since 2003.
In other markets
In Taiwan, the Taiex index waned 84.6 points, or 0.9%, to 9,774.16
In Korea, the Kospi index skidded 26.17 points, or 1.3%, at 2,069.38
In Singapore, the Straits Times Index subtracted 33.99 points, or 1.1%, to 3,077.09
In New Zealand, the NZX 50 slid 70.66 points, or 0.8%, to 8,722.51
In Australia, the ASX 200 declined 59.61 points, or 1.1%, to 5,602
