Japanese stocks ended their trading year in negative territory on Friday.
In Japan, the Nikkei 225 pulled back from Thursday’s massive gains and lost 62.85 points, or 0.3%, to 20,014.77. The market has veered in and then out of bear market territory this week.
Those losses saw the Nikkei 225 post its first annual loss since 2011. The Japanese markets are closed next Monday, making Friday their final trading day of 2018.
In Hong Kong, the Hang Seng Index inched forward 25.32 points, or 0.1%, to 25,504.20
Hong Kong-listed shares of ZTE gained around 0.8% on Friday, as of their final hour of trade, after seeing declines the previous day.
The moves in Japan came after the country’s central bank released its summary of opinions from its December monetary policy meeting, where it noted the “heightening” of downside risks to economic activity.
Japan’s industrial output also declined in November, registering a 1.1% fall as compared with the previous month. The country’s jobless rate also increased to 2.5% in November, as compared to 2.4% in October.
The Japanese yen, widely viewed as a safe-haven currency, traded at 110.48 against the U.S. dollar after touching lows around 111.3 yesterday.
In Australia, markets finished positive, with most of its sectors higher. The heavily weighted financial sub-index rose 2.3% as shares of Australia’s so-called Big Four banks saw gains.
Australia and New Zealand Banking Group climbed up by 2.7% Commonwealth Bank of Australia rose 2.3%, Westpac gained 3% and National Australia Bank advanced 2.7%
The Australian dollar was at $0.7048 U.S. after touching highs above $0.707 in the previous session.
CHINA
In Shanghai, the CSI 300 regained 20.14 points, or 0.7%, to 3,010.65
Markets stateside were rocked earlier during their trading session on Thursday by renewed tensions between China and the United States.
The ongoing fight between the two economic powerhouses has rattled global stock markets for much of 2018.
Reports surfaced that U.S. President Donald Trump is considering an executive order to ban American companies from using telecommunications equipment made by China’s Huawei and ZTE.
Shenzhen-listed shares of ZTE fell 1.6% on the day.
The report comes amid efforts by officials from China and the U.S. to strike a permanent trade deal. Earlier in December, the two countries agreed to a 90-day grace period on implementing additional tariffs in order to come up with an agreement.
In other markets
In Taiwan, the Taiex index grew 85.85 points, or 0.9%, to 9,727.41
In Korea, the Kospi index took on 12.6 points, or 0.6%, at 2,041.04
In Singapore, the Straits Times Index gained 8.69 points, or 0.3%, to 3,053.43
In New Zealand, the NZX 50 added 8.97 points, or 0.1%, to 8,783.49
In Australia, the ASX 200 improved 57.12 points, or 1%, to 5,654.32
