Stocks in Asia were broadly lower on Friday, with Japanese equities leading the fall.
The Nikkei 225 capped off a rough week with a loss of 226.39 points, or 1.1%, to 20,166.18. The benchmark Nikkei 225 dropped more than 2.5% in the previous trading session.
Shares of Japanese banks fell on the back of the Bank of Japan’s decision on Thursday to keep interest rate targets unchanged. Mitsubishi UFJ Financial Group shed 2.2% while Sumitomo Mitsui Financial Group dropped 2.2%.
Japanese banks have suffered as a result of the central bank’s loose monetary policy, which has had the side effect of impacting the revenues of the country’s lenders.
The moves in the Japanese currency came after the country’s inflation data for the month of November came in below expectations. The core consumer price index (CPI), which discounts the effect of fresh food costs, rose 0.9% year-on-year. That was lower than a median market forecast of a 1% increase.
The so-called core-core CPI, which discounts the effect of both fresh food and energy costs, gained 0.3% on a year-on-year basis. It had risen around 0.4% year-on-year in the previous month.
The Japanese yen, widely viewed as a safe-haven currency, traded at 111.30 against the U.S. dollar after touching lows above 112.5 in the previous session.
In Hong Kong, the Hang Seng Index wrung out gains of 129.89 points, or 0.5%, to 25,753.42,
Australian markets closed lower, with most sectors slipping. Shares of the country’s so-called Big Four banks declined, with Australia and New Zealand Banking Group, Westpac and National Australia Bank all seeing declines of at least 1%.
The Australian dollar was at $0.7113 U.S. after a turbulent session yesterday which saw it touching highs above $0.714.
CHINA
In Shanghai, the CSI 300 lost 38.02 points, or 1.2%, to 3,029.40
On Thursday, the U.S. Justice Department announced charges against two Chinese nationals for being part of a global hacking campaign.
The two individuals, Zhu Hua and Zhang Shilong, are charged with conspiring to commit computer intrusions and wire fraud, as well as aggravated identity theft. It was part of campaigns that lasted for years, as they sought to steal from several foreign governments and dozens of companies. The two men remain at large.
Prosecutors also accused the two of operating in conjunction with the Chinese government.
In other markets
In Taiwan, the Taiex index slipped 4.58 points, or 0.2%, to 9,676.67
In Korea, the Kospi index inched forward 1.37 points at 2,061.49
In Singapore, the Straits Times Index slumped 4.58 points, or 0.2%, to 3,046.04
In New Zealand, the NZX 50 moved lower 86.01 points, or 1%, to 8,686.19
In Australia, the ASX 200 dropped 38.18 points, or 1.3%, to 5,467.64
